I'm unclear as to the lock-in date for require minimum distribution for traditional IRAs.
In calculating how much I must withdraw this year, do I use the value of my IRA as of Jan. 1?
If not, what date?
Required distribution query ? ? ?
Oct 09, 2008
1 Replies
Well, to be specific, it's Dec 31, 2007 which works out to the same thing as Jan 1 is always a holiday. Since statements are cut at month's end it's that Dec statement ending balance that you use. (note - if any 60 day loan was outstanding, and does not appear on that statement it has to be added back in)
Joe
formatting link
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required