Twinky
Feb 6 2007, 12:18 PM
I have calculated the RMD for a participant for 2006. The participant died in February 2006. The client is telling me that the RMD for 2006 should only be for 2 months (prorated), since the participant died in February. I hadn't heard of this before...is this correct????
Thanks!
Bird
Feb 6 2007, 01:35 PM
QUOTE
...is this correct????
No. A lifetime RMD is required in the year of death. Death RMD rules apply in the following year. Ask the client for a cite if they don't believe you.
Twinky
Feb 6 2007, 02:28 PM
That's what I thought...
Thank you very much!