Minimum IRA Distribution
I will turn 701/2 this year. My spouse is 10 years younger than me and is 90% beneficiary of my IRA and a stepdaughter is 10% beneficiary. Which IRS Table do I use to determine my minimum distribution? Thanks for any help.
I will turn 701/2 this year. My spouse is 10 years younger than me and is 90% beneficiary of my IRA and a stepdaughter is 10% beneficiary. Which IRS Table do I use to determine my minimum distribution? Thanks for any help.
Permalink Submitted by Alan Spross on Tue, 2011-07-05 16:23
Use the Uniform Table (Table III) and the age you will be on 12/31/2011. Also, for your first RMD year you have a choice to take your RMD this year or next year no later than 4/1/2012. But if you take it next year you will also have to take your 2012 RMD next year and will have two RMDs taxable in the same year.
(Having the stepdaughter added as beneficiary does not affect your RMDs.)