MRD Reminder

Taxpayers turning age 70½ during 2012 are required to take their first minimum required distribution (MRD) from a traditional IRA by April 1, 2013. In addition, their 2013 MRD must be taken by the end of 2013. Taxpayers who expect to be in a higher tax bracket in 2013 should consider taking their 2012 MRD in 2012 to avoid higher taxes in 2013.

 

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