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Retirement tax questions
yes you must take an RMD. however, the distribution for the year you reach 70 1/2 can be delayed until 4/1 of the following year but then in that year you must take a second distribution by 12/31 ( reg 1.408-8 Q&A 2)
you can still contribute to your SIMPLE
Required minimum distribution rules apply to all employer-sponsored retirement plans, including profit-sharing plans, 401(k) plans, Roth 401(k)s, 403(b) plans, and 457(b) plans, as well as to traditional IRAs and IRA-based plans such as SEPs, SARSEPs and SIMPLE IRAs. The rules don’t apply to Roth IRAs.
September 29, 2019
1:48 AM
1,230 Views