RMD’s for 2020

960x0As part of COVID-19 stimulus package signed by President Trump, Required Minimum Distribution’s (RMD) have been suspended for 2020.  This will allow people age 70.5 and over (or those who have inherited an IRA) to leave their money intact for a market recovery.

However, should you leave your money?  Limiting the RMD may lower your tax bracket for one year, but you should consider your tax brackets over multiple years.

https://www.forbes.com/sites/ashleaebeling/2020/03/27/congress-suspends-required-minimum-distributions-for-401ks-and-iras-for-2020-opening-window-to-tax-savings/#665998582cb6

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s