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Group:
Can anyone please explain the definition of
'RMD'? Thanks for any feedback.
chas
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Sent: Saturday, January 31, 2004 11:03 AM
Subject: Fw: Intrust IRA Reciever Certificate in RMD
calculation?
Life is never so simple: I now think my statement below
is true for 2004 and later RMD calculations (RC= zero). If you have an RMD
for 2003, which I now have, it is based on IRA balances on 12/31/2002, and the
RC value was at that time still on the books and must be included! For
balances from 12/31/2003 and later, the RC value is zero, I think! If
anyone sees this differently, please let me know?
cheers,
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Sent: Thursday, January 29, 2004 1:01
PM
Subject: Fw: Intrust IRA Reciever
Certificate in RMD calculation?
GOOD NEWS:
Mtrust just said, with some conviction(?), that the
remaining RC value is zero and it no longer needs to be in your year end
account values for RMD purposes. Zounds logical!
cheers,
Sent: Thursday, January 29, 2004 11:51 AM
Subject: Intrust IRA Reciever Certificate in RMD
calculation?
I know almost all you guys are too young, but your time will
come! At one time we were advised we had to include the value of our IRA
Receiver Certificate (RC) in our previous year account balances, for the RMD
calculation. I believe we have now been effectively told the RC value is
zero, so maybe we no longer need to include the RC value in the RMD
calculation?
At the same time, I believe we can now write off our
valueless RC for a non-IRA account?
Any thoughts or wisdom?
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