RMD’s for 2020
Just wondering if anyone has heard anything on RMD relief for 2020. Meaning has anybody proposed
stopping the RMD requirement for 2020?
Just wondering if anyone has heard anything on RMD relief for 2020. Meaning has anybody proposed
stopping the RMD requirement for 2020?
Permalink Submitted by Diane Bresee on Fri, 2020-03-20 16:25
I heard that something may be coming to defer or postpone, or to eliminate RMDs altogether, or nix those that have already been inacted, for RMDs due to be paid for this year, 2020. This action would help taking payments at a loss on a high year end 2019 balance, and save on next years taxes. Stay tuned! I hesitate to take my RMDs at a loss across my fund base as required by my 401k manager.
Permalink Submitted by Alan - IRA critic on Fri, 2020-03-20 17:53
If you can, delay taking your 2020 RMD just in case something like this happens. If the RMDs are waived and you have already taken yours, you will probably be allowed to roll it back less any withholding you had withdrawn, but you probably would prefer to avoid that.