Question
Sean (age 74 at end of 2019) retired five years ago. The balance in his 401(k) account on December 31, 2018, was $1,760,000 and the
Sean (age 74 at end of 2019) retired five years ago. The balance in his 401(k) account on December 31, 2018, was $1,760,000 and the balance in his account on December 31, 2019, was $1,835,000. Using the IRS tables below, what is Sean's required minimum distribution for 2019?
| Age of Participant | Distribution Period | Applicable Percentage |
| 70 | 27.4 | 3.65% |
| 71 | 26.5 | 3.77% |
| 72 | 25.6 | 3.91% |
| 73 | 24.7 | 4.05% |
| 74 | 23.8 | 4.20% |
| 75 | 22.9 | 4.37% |
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The Underground Credit Builders Handbook What You Need To Know To Build Personal And Business Credit Successfully
Authors: Fourth Dimension
1st Edition
0998060909, 978-0998060903
