Don asks:<<When a taxpayer selectes his/her method for minimum required distributions (after age 70 1/2), is it necessary to report this method to the IRS? If so, how and when is this done?>>There is no legal requirement to do do; however, to avoid any audit problems with the IRS, an explanation of the methodology used should be maintained with your tax records to substantiate each year's withdrawal.Regards….Pixy
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