Guest Twinky Posted November 7, 2008 Posted November 7, 2008 If the son bought the company from his Dad, and his Dad is still employed, does the Dad HAVE to receive his RMD (due to stock attribution)? (The buyout was before he turned 70½.) Thanks so much!
masteff Posted November 7, 2008 Posted November 7, 2008 Yes, he's a 5% owner by the constructive ownership rules.... Sec 401(a)(9) references to Section 416 which references to Section 318. Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra
Guest Twinky Posted November 7, 2008 Posted November 7, 2008 Thanks so much! That's what I thought too, but wanted confirmation.
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