TWO ACTS EFFECTIVE IN 2020, ASSOCIATED WITH QUALIFIED PLANS AND IRA’S HAVE SIGNIFICANTLY MODIFIED THE OTHER ITEMS ON THIS PAGE.
There are new life expectancy tables for required minimum distributions. Life expectancies are one or two years longer than before and will allow smaller amounts to be taken out of one’s IRA and qualified plans. The updated tables will apply to computing withdrawals for 2022 and beyond.
- IRA to Charities
- Spouse Inherited IRA
- Non-Spouse Rollovers
- Non-Spouse Inherited IRA
- Determination of Life Expectancy for Post Death Required Distributions
THIS IS A COMPLEX AREA OF THE LAW, AND ONE SHOULD CONSULT HIS OR HER TAX ADVISOR FOR SPECIFIC ADVICE ABOUT ONE’S SITUATION.