Posted on Mar 31, 2020
Stimulus Plan Includes Temporary RMD Waiver | ThinkAdvisor
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https://www.thinkadvisor.com/2020/03/31/stimulus-plan-includes-temporary-rmd-waiver/?slreturn= [login to see] 1835
Important for those who have retirement accounts. IRA expert Ed Slott of Ed Slott & Co. told ThinkAdvisor that “waiving 2020 RMDs will help lots of people avoid a tax bill on IRA value that has vanished. If not for this relief, 2020 RMDs would be based on the account value at Dec. 31, 2019, when the Dow was around 28,000.”
Important for those who have retirement accounts. IRA expert Ed Slott of Ed Slott & Co. told ThinkAdvisor that “waiving 2020 RMDs will help lots of people avoid a tax bill on IRA value that has vanished. If not for this relief, 2020 RMDs would be based on the account value at Dec. 31, 2019, when the Dow was around 28,000.”
Stimulus Plan Includes Temporary RMD Waiver | ThinkAdvisor
Posted from thinkadvisor.com
Taxes
Retirement
Income
Stock Market
Posted >1 y ago
Responses: 7
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Good info!
COL Mikel J. Burroughs Maj Marty Hogan TSgt David L. Alan K. CW5 Jack Cardwell Cynthia Croft Col Carl Whicker LTC Stephen F. Maj William W. 'Bill' Price SMSgt Lawrence McCarter CPL Dave Hoover SPC Douglas Bolton LTC Greg Henning Maj Bill Smith, Ph.D. Lt Col Charlie Brown SGT Steve McFarland PO3 Phyllis Maynard Sgt John H. PO3 Lynn Spalding SFC Joe S. Davis Jr., MSM, DSL
COL Mikel J. Burroughs Maj Marty Hogan TSgt David L. Alan K. CW5 Jack Cardwell Cynthia Croft Col Carl Whicker LTC Stephen F. Maj William W. 'Bill' Price SMSgt Lawrence McCarter CPL Dave Hoover SPC Douglas Bolton LTC Greg Henning Maj Bill Smith, Ph.D. Lt Col Charlie Brown SGT Steve McFarland PO3 Phyllis Maynard Sgt John H. PO3 Lynn Spalding SFC Joe S. Davis Jr., MSM, DSL
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now that the markets have stopped their free fall my retirement IRA is only down $20K from the highs of Mid February. as long as I don't touch it and it goes back up from the negative I'll be ok I still have a substantial savings in the bank and a direct COVID19 payment coming
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