If I purchase an immediate annuity with traditional IRA money before I turn 70, how will this affect the required minimum distributions after age 70 1/2?
In other words, will the RMD percentage be applied to the IRA balance as it was before the purchase or will the purchase effectively reduce the IRA balance?
Also, will the annuity payments count toward the RMD?
In other words, will the RMD percentage be applied to the IRA balance as it was before the purchase or will the purchase effectively reduce the IRA balance?
Also, will the annuity payments count toward the RMD?