Publication 590 v.s. MDIB Table

[Guest bjschiedel]

Can someone please help? We are involved in a disagreement with a CPA who insists that Publication 590 be used to determine life expectancy for a 70 1/2 distribution. Is Pub. 590 intended solely for IRA's? Has anyone heard of using any table other than the MDIB table intended to be used under the new regs. ????

[Michael Devault]

Take a look at Pub 590 for use in preparing 2001 returns. It can be downloaded using this link:

http://ftp.fedworld.gov/pub/irs-pdf/p590.pdf

On page 28, it says to use table III in Appendix C for determining Required Minimum Distributions. Care to guess what Table III is? Hint: It'll give you the answer you want!

Hope this helps.