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72T’s using the RMD method in 2009

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Byjohn

L1: 72T’s using the RMD method in 2009Hello,

Has anyone heard if clients can delay their 72T distribution for 2009 if they are using the RMD method for their 72T calculation?

Similiar to what we are looking at for RMD’s in 2009 (if Bush signs).Thank you,
John
2008-12-16 16:33, By: John, IP: [64.172.226.100]

L2: 72T’s using the RMD method in 2009I believe what you are referring to is a suggestion made by John McCain during the election. Maybe I mised it, but I know of no proposed or pending legislation that woulddelay any Minimum Distributionrequirements – before or after age 70.5.2008-12-16 17:22, By: Gfw, IP: [216.80.125.206]

L2: 72T’s using the RMD method in 2009Long story short – Good news – Congress did pass a bill last Thursday, which Bush is expected to sign, to suspend the 50% penalty for 2009, for both older folks and those with inherited IRAs. The result is you don’t have to take anything out for 2009.2008-12-16 18:29, By: Kim, IP: [75.186.69.252]

L2: 72T’s using the RMD method in 2009Thanks – I found it this morning. It’s official name … H.R. 7327, the Worker, Retiree, and Employer Recovery Act of 2008Alink to a summary …http://www.webcpa.com/article.cfm?articleid=30199&pg=ros2008-12-17 02:22, By: Gfw, IP: [216.80.125.206]

L2: 72T’s using the RMD method in 2009I read the summary and need a little more clarification. I’m switching to RMD from Amorization on 1/1/09. I began my 72t on 2/15/06. Does this bill allow me to suspend any further distributions since I will be using RMD for my calculation until I reach the end of my 5 years? I understand you have to take money out at 70 1/2 using RMD. That’s why I don’t understand why this would get submitted to the forum if it didn’t impact those of us who began a 72t before 59 1/2 and are using the RMD method. Respectfully submitted.2008-12-17 06:16, By: hsfmini, IP: [71.245.56.243]

L2: 72T’s using the RMD method in 2009If you read the summary to the link that I posted you will find that the answer to your question is NO.I posted it because it was mentioned in a previous post -while this site and the forumdeal primarily with SEPPS, it also deals with other IRA topics.2008-12-17 06:35, By: Gfw, IP: [216.80.125.206]

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