Question
Ian retired in December of 2021 at the age of 71 (his birthday is January 6). Ian's retirement account was valued at $580,000 at the
Ian retired in December of 2021 at the age of 71 (his birthday is January 6). Ian's retirement account was valued at $580,000 at the end of 2020 and $590,000 at the end of 2021. He has had all of his retirement accounts open for 15 years.
What is Ian's required minimum distribution for 2022 under each of the following alternative scenarios? (Use Exhibit 13-3)
a) Ian's retirement account is a traditional 401(k) account. Required minimum distribution =
b) Ian's retirement account is a Roth 401(k) account. Required minimum distribution =
c) Ian's retirement account is a traditional IRA. Required minimum distribution =
d) Ian's retirement account is a Roth IRA. Required minimum distribution =
EXHIBIT 13-3 Abbreviated Uniform Lifetime Table for Distributions in 2022Step by Step Solution
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Data Analysis And Sampling Simplified A Practical Guide For Internal Auditors
Authors: Donald A. Dickie PhD
1st Edition
1634540611, 978-1634540612
