countrygirl2
Senior Associate
Joined: Dec 7, 2016 15:45:05 GMT -5
Posts: 16,828
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RMD
Nov 19, 2020 21:09:42 GMT -5
Post by countrygirl2 on Nov 19, 2020 21:09:42 GMT -5
Under the Cares Act do you have the right to not take RMD's this year. I have one we are not going to but would like to forgo another. I looked at the site and didn't see that option on the one I'm not wanting to get.
And we do not have to take 2 next year, correct?
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jerseygirl
Senior Member
Joined: May 13, 2018 7:43:08 GMT -5
Posts: 4,745
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RMD
Nov 23, 2020 20:53:03 GMT -5
via mobile
Post by jerseygirl on Nov 23, 2020 20:53:03 GMT -5
Under the Cares Act do you have the right to not take RMD's this year. I have one we are not going to but would like to forgo another. I looked at the site and didn't see that option on the one I'm not wanting to get. And we do not have to take 2 next year, correct? Correct not 2 next year Just call the second account and tell them not to send RMD this year Since we’re not using RMDs this year, we transferred money from regular IRA to a Roth account. Usually need to take RMDs then money over that can be transferred to Roth. So less tax this year even with transferring to Roth Think taxes will be increasing a lot with Biden
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