Question: I am 74 years old and I did not take any distributions from my IRA in 2009. Do I need to take any in 2010?
Steven, Anaheim, CA
Answer: Yes. Congress waived any Required Minimum Distributions (RMD) for 2009 due to the economy but this rule was NOT extended to 2010.
Thus, for 2010, all taxpayers who are over Age 70 1/2 must take out the RMD. Hopefully, your IRA trustee or custodian has provided these calculations to you so you know what your RMD actually is for 2010. If you have not yet received this information, please contact your custodian so that any RMD can be taken by the end of 2010 as the law requires.
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