Required Minimum Distributions
A prospect I met with informed me that she is taking minimum distributions from her IRA annuities but last year put that required distribution into her IRA account with Fidelity. She was led to believe that this means she would not have to pay taxes. I think that this is entirely wrong but would like to have confirmation.
Permalink Submitted by mk foss on Fri, 2010-05-07 17:07
In 2009 Required Minimum Distributions were waived. Since the RMD received from the annuity was not required, it was fine to roll it into an IRA. Normally a RMD cannot be rolled over but all rules were changed in 2009.