ILLMAS Posted January 24, 2012 Report Posted January 24, 2012 Hello, hopefully someone can guide on this one, TP mother forgot to withdrawl RMD for 2010 and 2011, is there a way to correct this and avoid the 50%? FYI TP mother has had some health issues in the past years, can this help out? Thanks MAS Quote
MAMalody Posted January 25, 2012 Report Posted January 25, 2012 If the mother is not the client of a preparer, including you, reasonable cause may work with the health issues. Otherwise, I think they may be stuck. Quote
Lion EA Posted January 25, 2012 Report Posted January 25, 2012 Don't have any who chose to use the exception, but wasn't a recent year -- 2010? -- allowed to skip RMD? Quote
Gail in Virginia Posted January 25, 2012 Report Posted January 25, 2012 I believe that was 2009 but I am not sure. Memory can be a tricky thing, and all these tax season have started running together - one doesn't stop before the next one begins! Quote
MN2V Posted January 25, 2012 Report Posted January 25, 2012 You are in luck as both 2009 and 2010 were years that the RMD could be left in the IRA to "grow"... Quote
MN2V Posted January 26, 2012 Report Posted January 26, 2012 My bad...thinking of Roth rollovers I guess... Quote
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