2009 RMD Question
Just a clarification –
For anyone who’s first year of RMD’s lands here in 2009, does that simply mean that for the 2009 calendar year, no distribution has to be taken (with the recent legislation passed on 09′ RMD’s) –
My client’s DOB is 6/26/1939 – So his 70 1/2 date would be 12/26/09…Being that the date is after July 1, he would have until April 1, 2010 to take that first year RMD – This is where my question is – Being that his mandatory date is pushed to 2010, if he elects to do that, the suspension of the 2009 RMD really doesnt do him any good ?? Meaning that he would still have to take that RMD prior to April 1 and then another one for the 2010 calendar year ??
Permalink Submitted by Alan Spross on Mon, 2009-05-11 20:24
The RMD waiver applies to the actual distribution year. SInce 2009 is the client’s first distribution year, this RMD is waived. For 2010, unless the waiver is extended by Congress, he will only have to take the 2010 RMD, therefore there is a benefit in the waiver for him.
This does NOT mean that since 2010 becomes his first RMD year, that he can push it off until 4/1/2011. It must be taken by 12/31/2010.