RMD question for my mother

[jIMOh]

My mother turned 70 in June, turns 70.5 in December.

TD Ameritrade suggested she did not need to take RMD out until April.
I believe she needs to take it out before Dec 31.

She does not need the money. She does want to stay out of trouble with the IRS though...

Feedback?

 

[Alan]

She has until April.

IRA Required Minimum Distributions Table | Bankrate.com

Tax law requires individual retirement account holders to begin taking out at least minimum amounts, known as required minimum distributions, or RMDs, from their accounts once they reach age 70½. Technically, that means the IRA money must start coming out in specific increments no later than April 1 following the year you reach that age.

 

[GrayHare]

From http://www.estateattorney.com/elderlaw-articles/iras-mandatoryirawithdrawals.html "...while you must ordinarily take the withdrawal by year-end, in the first year, you have until April 1 of the following year to disburse the IRA money."

 

[pb4uski]

So she if she took it as late as possible she would have two RMDs in 2014; her first on April 1 and her 2014 RMD on December 31. The only problem that might cause her is she would have taxable income from two RMDs in one year which might kick her into a different tax bracket. If the extra RMD doesn't push her into a higher tax bracket then it probably doesn't matter.