Ghon is a married taxpayer who retired from his job at Smithfield Printing in 2015. During 2016,

Question:

Ghon is a married taxpayer who retired from his job at Smithfield Printing in 2015. During 2016, he turns 70 1/2 and begins withdrawing the $215,000 (balance December 31, 2015) in assets in his pension account. Smithfield maintains a noncontributory pension plan. Determine the required minimum that Ghon must take.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...