First RMD in 2009?

Submitted by steve harper on Thu, 2009-07-09 16:34

I noticed this question has been posted before but I wanted to try and get clarification as I had a friend tell me the answer he got from the IRS was different than the answer posted on here.

If I am turning 70.5 this year do I have to take a RMD for 2009?

My buddy said the IRS told him he did have to take an RMD for 2009 since it is his first– Which does not make sense to me.

Can anyone clarify the rule? Thank you for your help in advance!



Submitted by Joseph Arsenault on Thu, 2009-07-09 16:55

If your friend turned 70 1/2 in 2008 and deferred his first RMD to April 1st of 2009 then he would still need to take the RMD because it is a 2008 RMD.

If you turned 70 1/2 in 2009, you do not have to take an RMD this year. Your first RMD will be in 2010 and it will be due by December 31st.

-J



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