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With the New Secure 2019 Act, It extends the age at which a
With the New Secure 2019 Act, It extends the age at which a retiree is required to begin taking "Required Minimum Distributions" out of a traditional IRA from 70.5 to 72 years. So if my client was to … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,200 satisfied customers
My question is on 401K rollover and whether I need to take
My question is on 401K rollover and whether I need to take Required Minimum Distribution before executing the rollover.I inherited this 401K account from my late husband, who would have turned 70.5 ye… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
20,197 satisfied customers
Robin, Question is, my husband inherited a IRA from his
Hi Robin,Question is, my husband inherited a IRA from his father a traditional IRS. He started taking the equal amounts over 5 years. Our new investment person said we should have taken it over my hus… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,723 satisfied customers
I turned 70 years old on May 31st and I have an IRA. I want
Hi, I turned 70 years old on May 31st and I have an IRA. I want to know if it is better to wait until November to withdraw my minimum required amount? I have received 3 different answers from JP Morga… read more
Alexander Efros
Alexander Efros
Financial Planner/Tax Specialist
Masters of Business Administration (MBA)
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Required minimum distribution from an inherited IRA (income
required minimum distribution from an inherited IRA (income reported on 1099-R) Can a charitable gift prevent/offset the tax on the distribution?… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
7,247 satisfied customers
How do I calculate a required minimum distribution from an
How do I calculate a required minimum distribution from an IRA when someone turns both 70 1/2 and 71 in the same year? For 71; I use the balance in the IRA as of Dec 31st what balance do I use to calc… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
5,010 satisfied customers
Second opinion] At age 70.5 how much and how often do I have
Second opinion] At age 70.5 how much and how often do I have to take money out of my IRA accounts? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
20,197 satisfied customers
MY HUSBAND HAS AN IRA FOR .335,585.87. HE TURNED 71 NOVEMBER
MY HUSBAND HAS AN IRA FOR .335,585.87. HE TURNED 71 NOVEMBER 24, 2017..WE DID NOT KNOW THAT WE WERE TO BEGIN TO TAKE OUT WITH RMD AT AGE 70 1/2. WHAT DO WE DO HOW DO WE START AND WHAT PENALITIES DO WE… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
20,197 satisfied customers
I will be in april. I will be 70 in april 2019 I will be 71
I will be 69 in april. I will be 70 in april 2019 I will be 71 in april 2020. I have ira account and about four 401 K accounts . Who determins what I am required to take out of either just IRA or IRA … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,200 satisfied customers
I will turn 70.5 this tax year. Do distributions during this
I will turn 70.5 this tax year. Do distributions during this tax year, before I turn 70.5 count towards the RMD? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
18,723 satisfied customers
I am 71 years old and joint with my husband for tax-return.
I am 71 years old and joint with my husband for tax-return. My husband is 73 years old, but he is still working. I have a regular IRA account. Do I need to start to withdraw money from my account?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,200 satisfied customers
I understand you must begin withdrawing from an IRA the year
I understand you must begin withdrawing from an IRA the year after you turn 70 1/2. How much must you withdraw every year?… read more
Wallstreet Esq.
Wallstreet Esq.
Tax Attorney
Doctoral Degree
586 satisfied customers
What is the required minimum distribution from traditional
What is the required minimum distribution from traditional IRA's - after you reach 70 and one half… read more
geedubya55
geedubya55
Owner
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MY MOTHER-IN-LAW TURNED 71 THIS YEAR AND WAS NOTIFIED BY TWO
MY MOTHER-IN-LAW TURNED 71 THIS YEAR AND WAS NOTIFIED BY TWO OF HER IRA INSTITUTIONS THAT SHE MUST BEGIN TO TAKE OUT MONEY THIS YEAR AND PAY TAX ON IT. MY QUESTION... WHAT IS THE MINIMAL AMOUNT THAT S… read more
Merlo
Merlo
Tax Consultant
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IRA questions Birthday 12/11/1938 70.5 in 2009 Is RMD required
IRA questions Birthday 12/11/1938 70.5 in 2009 Is RMD required for 2009, based on 2008 account balance? Is divisor for calculating RMD based on age 70 or 71? What is divisor for calculating RMD? Is RM… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,200 satisfied customers
My wife will turn 70 in December of this year. She has an
My wife will turn 70 in December of this year. She has an IRA and would like to know does she need to start withdrawing from the IRA this year or next? When she does start her withdrawels which Applic… read more
Merlo
Merlo
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558 satisfied customers
I will turn 70.5 years old in a few months. When I ...
I will turn 70.5 years old in a few months. When I retired 9 years ago I rolled over all my IRA accounts into an annunities. Since then I have taken regular monthly withdrawals (about 10% per month) f… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
35,200 satisfied customers
How can I find my basis for required distribution of my VIP ...
How can I find my basis for required distribution of my VIP account (ira). I don't have all the statements from the last 30 years....How do I know what to use?… read more
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Christopher Phelps
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