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life expectancy

ONCE-PER-YEAR ROLLOVER RULE AND NEW LIFE EXPECTANCY TABLE: TODAY’S SLOTT REPORT MAILBAG

Question: My question relates to an IRA withdrawal that is then deposited as a Roth conversion. Will this withdrawal count as a once-per-year IRA rollover? Thanks in advance for your wonderful advice.

New 2022 IRS Life Expectancy Tables Available Here

The IRS has released new life expectancy tables for calculating required minimum distributions (RMDs) for 2022. The most commonly used tables are the Uniform Lifetime and the Single Life Expectancy Tables. The Uniform Lifetime Table is used by most IRA owners who need to take 2022 lifetime RMDs.

What 2022 May Mean for Your Retirement Accounts

Pop the champagne! It is almost time to turn the page on the calendar to a new year. What will 2022 mean for your retirement accounts? All signs point to a very busy year ahead. Here is what we may expect for retirement accounts in 2022. 1. New life expectancy tables for calculating required minimum distributions (RMDs) go into effect. In 2022, at long last, the IRS has put new life expectancy tables in place for calculating RMDs from retirement accounts.

Which Life Expectancy Table Do I Use?

When it comes time to calculate your required minimum distribution (RMD) from your IRA, you may wonder which life expectancy table to use. Last updated by the IRS back in 2002, there are three possible tables for IRA owners and beneficiaries, and they can all be found in IRS Publication 590-B. The three tables are the Uniform Lifetime Table, the Joint Life Expectancy Table, and the Single Life Expectancy Table. Uniform Lifetime Table If you are taking RMDs from your IRA during your lifetime, this is most likely going to be your table. This table is used by most IRA owners for figuring lifetime RMDs from their IRAs. The only IRA owners who will not use this table are those whose spouse is their sole beneficiary for the entire year and is more than 10 years younger.

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