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Grace, a single taxpayer age 78, forgot to take her 2020 required minimum distribution(RMD). Her account balance on December 31, 2019 was 250, 000. Taking
Grace, a single taxpayer age 78, forgot to take her 2020 required minimum distribution(RMD). Her account balance on December 31, 2019 was 250, 000. Taking into account changes implemented under the SECURE Act and the CARES Act, what is her excess accumulations penalty? 0, 6,158, 12,315, or 25,000.
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