Lois (DOB September 25, 1949) must take her first required minimum distribution from her traditional IRA...

Lois (DOB September 25, 1949) must take her first required minimum distribution from her traditional IRA by what date?

April 1, 2020.

April 1, 2021.

April 1, 2022.

April 1, 2023.

Expert Solution

In casse you were born on July 1, 1949, or later, your first Required minimum distribution is due by April 1 of the year after which you turn 72. Lois will completed her 72 age in September 2021, therefore she must take her first required minimum distribution from her traditional IRA by April 1,2022.

Correct answer is option 3.

ekkarill92 answered 2 years ago

Jane is required to take her first required minimum distribution (RMD) this year. Which of the...

Jane is required to take her first required minimum distribution (RMD) this year. Which of the follow are true regarding that distribution? The distribution can be in cash or in kind The first distribution can be delayed until April 1st of the following year The IRA is valued as of the last day of the previous year in making distribution calculations If the distribution is deferred until the following year, she will have to take two distributions next year ...

in 2017 cal will take 5000 distribution from traditional IRA for purchase of his first home....

in 2017 cal will take 5000 distribution from traditional IRA for purchase of his first home. he willmake 4000 elective deferral into his employer's 401 k plan. how much savers credit in 2017 if AGI IS 34500 AND HE IS SINGLE 0 400 800 1000

Your client was born on Nov 28, 1945. This client must take his first required minimum...

Your client was born on Nov 28, 1945. This client must take his first required minimum distribution from an IRA no later than a. April 1, 2017 b. April 1, 2016 c. May 28, 2016 d. November 28, 2016 Look on the 2017 Form 1040 (in Ch 3 of the textbook). Alimony received is included in the income section of the return. Alimony paid is included in the Adjusted Gross Income portion of the return. Which statement is true regarding...

Anthony reached age 70 1/2 in September of 2015 and took his required minimum distribution from...

Anthony reached age 70 1/2 in September of 2015 and took his required minimum distribution from his traditional IRA on April 1, 2016. What is the deadline for his next required minimum distribution? a) December 31, 2016 b) April 1, 2017 c) April 15, 2017 d) December 31, 2017

what is the maximum you can take early distribution from a Roth IRA for a purchase...

what is the maximum you can take early distribution from a Roth IRA for a purchase a home without a penalty?

Fred turned 70 1/2 on October 1, 2015. He took the first required minimum distribution from...

Fred turned 70 1/2 on October 1, 2015. He took the first required minimum distribution from his traditional IRA on April 1 2016. What is the deadline for his next required minimum distribution?

Question