View Single Post
  #3   Report Post  
posted to rec.boats
Califbill Califbill is offline
external usenet poster
 
First recorded activity by BoatBanter: Oct 2012
Posts: 3,510
Default IRA Required Minimum Distribution...

Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not
Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's
your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do
your taxes for you.


My brokerage sends me a notice with what I have to withdraw. Even simpler
than IRS. The scary part is what is the tax rate going to be in 5 years
with the gross overspending by the government.