Required Minimum Distribution (RMD) for 2010 - Tax Tip of the Week | May 5, 2010 | No. 39

Tax Tip

May 4

Written By

The Suspension is overAs you may remember, the requirement to take a Required Minimum Distribution (RMD) was suspended for 2009.Starting in 2010, anyone over age 70 ½ with an IRA or other qualified retirement plan must receive their RMD each year. There are penalties if the RMD is not taken.If you, or anyone you know, is over 70 ½, double check with the administrator of your plan that these distributions are scheduled for this year.You might have some questions on this one... Just give us a call. In Dayton, call 937-436-3133 and in Xenia, call 937-372-3504. Or visit http://www.bradstreetcpas.com. Rick Prewitt - the guy behind TTW...until next week.

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