Client age is 80yr in 2023. His RMD using last year's table was 20.2. Using the new table is 18.7. So his taxable distribution will be quite larger than I had told him. His 78-yr old wife similarly moves from 22.0 to 20.3, again larger 2023 distribution. Will now put him into next IRMAA bracket. Am I reading this correctly?
"His RMD using last year's table was 20.2. Using the new table is 18.7."
Everything went down, in that the life expectancy increased. What was 18.7 (5.35%) is now 20.2 (4.96%). You might want a reference with both columns, the transition, such as:
Even though the RMD is changing (again), I would not expect new RMD tables to be issued, since they are not based on the RMD rules, but actuarial data.
******************************* "Level Up" is a gaming function, not a real life function.
You have clicked a link to a site outside of the ProConnect Community. By clicking "Continue", you will leave the Community and be taken to that site instead.
