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