Joint LIfe Table
Our client, John will be 73 this year on Sept 13th (birth date 9/13/1951)
Spouse, Jane’s birthdate is June 20th, 1961 (turns 63).
Jane is technically not 10yrs or more younger than John but since Jane is 10yrs or more younger than John at year end, would we still use the Joint table to calculate John’s RMD?
Permalink Submitted by Alan - IRA critic on Tue, 2024-06-11 18:36
The joint life table applies when the spouse is MORE than 10 years younger than the IRA owner using just the calendar years of birth without regard to the actual date. Therefore, the Uniform Table applies to this example as the spouse is not more than 10 years younger. The Uniform table assumes that the spouse is exactly 10 years younger and therefore in this example the RMD divisor would be exactly the same for both tables (26.5).
Permalink Submitted by Wendy Mommaerts on Tue, 2024-06-11 18:58
So it’s not 10yrs OR more younger, but instead it’s “MORE” than 10yrs, so 11yrs or more?
Permalink Submitted by Alan - IRA critic on Tue, 2024-06-11 19:07
Yes, exactly.