But don't wait until Dec. 31 to take the distribution. Most (maybe all) financial institutions take 1-3 days to post the transaction and that does not include weekends. A distribution taken on Dec. 31 might not be posted until Jan 4. 2016 and that is the date that will appear on the data the financial institution sends to the IRS. You will find that in the fine print of the financial institutions terms that you are given when you opened the account. Always allow several days for processing and posting.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
