Required IRA Willdrawal Rates
I understand that after age 70.5, one is required to make IRA withdrawals based on his life expectancy.
If the return on the IRA account exceeds the required annual withdrawal, so that each year the account actually grows, is the taxpayer still required to withdraw only an amount based on his original life expectancy.
Asked on 5/10/00, 12:58 pm
1 Answer from Attorneys
WILLIAM BRANDWEIN
WILLIAM A. BRANDWEIN, A PROFESSIONAL LAW CORP.
Re: Required IRA Willdrawal Rates
The minimum amount is all that has to be withdrawn. There may have been an election to recalculate life expectancy. That election is made before the required beginng date.
Answered on 6/28/00, 6:03 pm
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