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Thank you! I'll put my reminder note away for now. I suppose I could watch the market and my numbers and still take my distribution when I think I'm back where I left off, if that happens this year. Yes, it's sort of timing the market. I don't actually need the distribution right this minute but then I don't want to have to do two (will we have to?) next year, or however this will work out.
Here's a link to the New York Times article which addresses various aspects of the bill, including RMDs.
?? I guess you mean you need the RMD money, so better to get as much as possible while tax rate is low? For those of us that don’t need the RMD, then taking it based on an almost all time high of 12/31/19 when there could be 20% less in the account means exemption from taxes on RMD is money saved. I usually take mine (inherited) as late in the year as possible to make more off it.
I’m curious how this will work. Are we just postponing it till next year then take two RMDs?(do i need an apostrophe?)
Or , are we skipping a year?
In researching this mention was made of a three year payback, not sure what that means.
I’ve decided not to kick myself just yet.
The law simply waives the RMD requirement for 2020, so you will just resume in 2021 based on 2020 year end and your age in 2021. We hadn't started withdrawals yet (except for QCDs) and now won't.
The 3 year payback refers to withdrawals from IRAs for Covid related costs.
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