single life expectancy table

New 2022 IRS Life Expectancy Tables Available Here

Wednesday, January 05, 2022
The IRS has released new life expectancy tables for calculating required minimum distributions (RMDs) for 2022. The most commonly used tables are the Uniform Lifetime and the Single Life Expectancy Tables. The Uniform Lifetime Table is used by most IRA owners who need to take 2022 lifetime RMDs.
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2020 Life Tables and RMDs: Today’s Slott Report Mailbag

Thursday, January 16, 2020
Question:Hoping you might be able to offer some guidance. We have a client who has two IRA accounts. The client is 80 years of age. He wants to convert the full amount in one of his IRA accounts to a Roth. The IRS says that distributions from IRA accounts are treated as satisfying the RMD first, so we need to take the RMD before we process the conversion. My questions are: 1.) The client has plenty of money in IRA #2 to satisfy the RMD for both IRA accounts. I presume that doesn't matter and we still need to take the RMD before we convert? 2.) Is the RMD that must be satisfied ONLY the RMD for IRA #1 that we plan to convert to a Roth, or is the RMD that must be satisfied the aggregate of both IRA accounts that must be met before we convert IRA #1 to a Roth?Thank you.Jamie
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What Life Expectancy Table Should I Use?

Wednesday, June 15, 2016
IRS does not have a crystal ball. Its team members don't know how long you are going to live. The life expectancy tables are based on statistics and do not take into account any of your personal information. Read on to discover what life expectancy table you should be using and how each works.
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What Distribution Options Do I Have With My Inherited IRA?

Thursday, September 03, 2015
This week's Slott Report Mailbag picked up on the "gold in IRAs" trend captured in two of our recent blog articles. We answer Bill's questions on selling the gold from his IRA then we move into questions on the Roth IRA 5-year rule and distribution options for inherited IRAs.
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Should I Name a Trust as My IRA Beneficiary?

Thursday, May 07, 2015
This week's Slott Report Mailbag, proudly sponsored by GoldCo Precious Metals, includes questions on how the pro-rata rule affects pre-tax and tax-free IRA money and how and when you should use trusts as IRA beneficiaries.
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How Do I Take an RMD on An Account Valued at Zero?

Friday, April 10, 2015
This week's Slott Report Mailbag looks at a dilemma we see in many households: expected income exceeds Roth IRA contribution limits, so the family elects to open a Traditional IRA, only to see by year-end that the expected income fell under the contribution limits. Can this family convert the Traditional IRA money to a Roth? Also, we examine the process of taking a required minimum distribution on an account valued at zero, and answer an inherited IRA question about the proper way of distributing funds.
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Don’t Miss Taking a Distribution From Your Inherited IRA by Year-End

Tuesday, December 02, 2014
If you’re the beneficiary of a deceased IRA owner, December 31, 2014 is an important date. If the decedent died in 2013 or earlier, you generally have to take a required minimum distribution (RMD) from the IRA by year-end to avoid a 50% penalty for not doing so. Read on to see how it works.
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