IRAs: No required distribution for 2009

Update: 12/27/08  

The House and Senate have passed a bill (and it is expected that the president will soon sign it) (and the president signed it)that allows IRA owners to skip their required IRA distribution for 2009.

This applies to those over 70.5 AND to those who have inherited IRAs. Both categories will not have to take 2009 distributions.

It was hoped that there would be relief from taking 2008 required distributions, since those are based on 12/31/07 values, but it appears that will not happen.

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