70 1/2 Year old working client that wants to give her IRA assets to kids.
RMD has to happen this year (2013) and she does not need the money. What are her options?
RMD has to happen this year (2013) and she does not need the money. What are her options?
Permalink Submitted by Alan - IRA critic on Thu, 2013-01-03 16:28
The RMD must still be satisfied, and she will then have money (less taxes on the RMD) in her taxable account to invest however appropriate. Theoretically, she should consider her pre tax traditional IRA as an account that both she and the IRS have a vested interest, and when RMDs begin the IRS is cashing out their interest in the IRA.