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Posted by JoeTaxpayer on October 9, 2008, 4:05 pm
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Ray wrote:
> I'm unclear as to the lock-in date for require minimum distribution for
> traditional IRAs.
>
> In calculating how much I must withdraw this year, do I use the value of
> my IRA as of Jan. 1?
>
> If not, what date?
Well, to be specific, it's Dec 31, 2007 which works out to the same
thing as Jan 1 is always a holiday. Since statements are cut at month's
end it's that Dec statement ending balance that you use.
(note - if any 60 day loan was outstanding, and does not appear on that
statement it has to be added back in)
Joe
www.blog.joetaxpayer.com
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