Question: 1. What is the minimum distribution that Mit must receive for 2019? 2. If he only receives a distribution of $200,000 during 2019, then how

1. What is the minimum distribution that Mit must receive for

1. What is the minimum distribution that Mit must receive for 2019?

2. If he only receives a distribution of $200,000 during 2019, then how much in penalties will he be required to pay for 2019?

ITEM SET 3: REQUIRED MINIMUM DISTRIBUTIONS (RMDS) Mit, who turned age 7042 on June 10th of 2019, owns 32% of Big Company and is its current CEO. He has amassed $15 million in his qualified plan account as of December 31st of 2018 and $17 million as of December 31st of 2019. He has named his son Colin (age 9 at the end of 2019) as his beneficiary

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