RMD taken by April 1st of following year
my client turned 70 and 70 1/2 last year. so they wanted to wait until this year to take the RMD by 4-1-2015 for 2014 and will take the rmd for 2015 at end of year.
I know I use age 71 and ending value of 12-31-2014 for the later RMD this year.
question:
I know we use age 70 distribution percentage for the RMD by 4-1-2015, but do I use the ending value on 12-31-14 or do I use the ending value on 12-31-2013?
thank you.
Douglas
Permalink Submitted by Alan - IRA critic on Thu, 2015-02-05 20:23
For the 2014 RMD deferred to 4/1/2015, use the 12/31/2013 IRA balance. And do NOT adjust the actual 12/31/2014 balance by the amount of the later 2014 RMD for purposes of figuring the 2015 RMD.