bene RMD when deceased was not of the RMD age
I was helping a client with the calculation on the bene RMD ( bene is the sister) assuming that she is taking the RMD based on the bene life expectancy. so dob for deceased is 05/31/1951. dod is 03/01/2008 for the deceased. dob for bene is 11/18/1946 and the year end 2008 value of the bene IRA acct is 228,000.00. when I do the calculation it give me $10,044.05. does that sound right?
Permalink Submitted by Edward Czapor on Mon, 2009-07-20 17:14
Yes, that is the correct RMD for 2009 using the factor of 22.7 for a 63 year old. However, no RMD is required for 2009. She of course can still withdraw any amount desired. For 2010 the factor is 21.7 on the ending 2009 balance. This factor is again reduced by 1 for each future year.