IRA Required Minimum Distribution...
On Thu, 13 Feb 2014 12:46:21 -0600, Califbill wrote:
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.
That works well if all your IRA funds are in one account.
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