Mark is single and must start taking distributions from his traditional IRA beginning April 1,2017.At the end of 2016 when Mark was 71 years old,the IRA had a balance of $110,000.What amount must Mark take as a distribution from the IRA by April 1,2017?

Question

Quizplus · Accepted Answer

The required minimum distribution (RMD) for 2017 is calculated by dividing the account balance at the end of the previous year ($110,000) by the life expectancy factor for someone who is 71 years old (26.5). Therefore, the RMD for 2017 is $110,000 / 26.5 = $4,151.

Mark Is Single and Must Start Taking Distributions from His