required minimum distribution
in reading the Slott newsletter and all other media discussion on conversion to roths the first time i read about making a rmd for 2010 was in the slott february newsletter which caused me some embarassment –did i miss something?
Permalink Submitted by Alan Spross on Tue, 2010-01-26 19:55
No. There was no formal announcement made that Congress did not extend the 2009 RMD waiver to 2010, because there does not seem to be any formal clock that Congress uses to determine when it is too late to pass legislation. However, due to the stock market recovery in 2009 and the budget deficit, there is no reason they would consider extending the waiver……..unless we have another crash this year.
I am not sure exactly what you read, but if you are subject to an RMD in 2010 and also plan to convert, you must take out the RMD first and then convert a later distribution. Also, if your turned 70.5 in 2009, your 2009 RMD is waived and your 2010 RMD must be withdrawn by the end of this year, but before you do any conversions this year.