RMD Question

Submitted by Robert Wright on Mon, 2015-03-23 20:45

I will be 70 1/2 this year. I will be 71 on my birthday this year.

My wife will be 52 this year.

Question 1: Do I use Table II (Joint Life and Last Survivor Expectancy) from IRS Pub 590 for the life expectancy in my RMD calculation?

Question 2: Do I recalculate our joint life expectancy every year in the future for my RMD calculation?

Thank you for your help.



Submitted by Alan - IRA critic on Mon, 2015-03-23 21:09

Yes, Table II applies if she is the sole beneficiary. 2015 divisor is 33.3. Every year you would re enter Table II (recalculation) using the age you each would attain by the end of that year. For 2016 you would use 72 and 53 for a divisor of 32.4. Since 2015 is your first RMD year, you can also defer any portion of your 2015 RMD you wish to 4/1/2016, and take the 2016 RMD by 12/31/2016.



Submitted by Robert Wright on Tue, 2015-03-24 14:08

Thanks Alan.



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