RMD on Re-Characterized Amount?
Person converted IRA to a Roth in 2010 after taking RMD. He then did a partial re-characterization in October 2011. Does he have to take an additional RMD on the amount he re-characterized? Thanks.
Person converted IRA to a Roth in 2010 after taking RMD. He then did a partial re-characterization in October 2011. Does he have to take an additional RMD on the amount he re-characterized? Thanks.
Permalink Submitted by Peter Lingane on Mon, 2011-11-07 17:14
Just to be clear, the 2010 RMD was distributed in 2010, the balance in the account was converted to a Roth IRA later in 2010 and a portion of the Roth IRA was timely recharacterized during 2011.
There is a 2011 RMD. See Alan’s post of October 14 for how the amount is determined.