newplananalyst
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Quick question regarding RMDs. I have a person that just turned 70.5 and needs a RMD in 2015, she has both pre-tax and roth. I look at the 12/31/2014 balance, and I come up with the RMD amount. Question is, do I have to take a certain portion from Roth, or can I take it all from pre-tax, or is it up to the participant. I appreciate all your help. Apologies for the likely elementary question.
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Required Minimum Distributions - 5% Owner Sold His Stake
newplananalyst replied to newplananalyst's topic in 401(k) Plans
Thanks guys! Appreciate the help. -
So I have a client who is turning 70.5 in December. He was a 5% owner until he sold his stake on June 1st of this year. Does he have to take a RMD (or MRD, this acronym seems to change with each source I research) in 2015. He has not separated from service, nor does he plan on it in the foreseeable future.