RMD 2009
What is the rule for someone turning 701/2 this year who would normally need to take their first RMD? Must they take a an RMD this year or can they skip it in 09 and take their first RMD in 2010?
What is the rule for someone turning 701/2 this year who would normally need to take their first RMD? Must they take a an RMD this year or can they skip it in 09 and take their first RMD in 2010?
Permalink Submitted by Clyde Wolf on Wed, 2009-07-08 16:16
Bditton,
For an IRA owner turning 70.5 in 2009, Normally they would have to take their first RMD by April 1, 2010. But because of the RMD suspension for 2009, No RMD needs to be taken in 2009.
These folks will need to take an RMD by December 31, 2010 based on the IRA balance as of December 31, 2009.
Charitable Contribution Distributions may be taken in 2009.