Austin, a single individual, turned 70 on February 13, 2019. The fairmarket value of his 401(k) plan was $400,000, $425,000 on December 31, 2018, and December 31, 2019, respectively. The factors, according to the Uniform Life Table, for ages 70, 71, and 72 are 27.4, 26.5, and 25.6, respectively. How much does Lee have to take as an RMD in the year he turned 70.5

1. $0.
2. $14,599.
3. $15,094.
4. $16,038.

Answer rating: 100% (QA)

Q 73 d 16038 Lee will not be required to begin taking minimum distributions u... View the full answer