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Author: BGPenhollo Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 78297  
Subject: Re: MDR - How do you make up for past years? Date: 10/12/2000 3:13 PM
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Billanne posted..

"At issue was the problem of a 78 year old with two 'retirement' plans and not taking minimum distributions on either. The first plan was an IRA she had for many years and the second was a 401k with the employer she is still working for. Our friend's tax preparer did call us back. By that time I had already received the information about her current 401k from the posts on the board. Since she is still working she does not need to take a distribution. The tax preparer did not know of the rule regarding the current employer and wanted to know how I got the information. Fortunately, he also advised that her former broker had arranged for the MDR between her IRA and regular account. When she transferred to a new broker in 1999 they had failed to set up the same arrangement so it is only 1999 that we need worry about. "

Thanks for the update. It is always nice to learn how things are working out. It's also nice to know that the Fool may have info that the local expert may not recall.

if it's not too much to ask, would you post to let us know how the IRS reacted and what they required of her for her 1999 error.


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