RMD – 70 1/2 in 2009
We have a client who turned 70 1/2 in 2009 – technically the client has until April 2010 to take his 1st RMD. With the suspension of the 2009 RMD’s, would our client be exempt from taking the 1st RMD or because the RMD isn’t really due until 2010 does the client need to satisfy the 1st RMD?
Permalink Submitted by Edward Czapor on Wed, 2010-01-27 04:26
The 2009 suspended RMD is not required. It is still a 2009 RMD, although it could have been deferred to 4/1/10. A 2010 RMD will be due by 12/31/10 based on 2009 year end values and the client’s age on 12/31/10 (71 or 72).