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Janell turned 70 in November of 2021. She was a participant in her employer's profit-sharing plan. Her profit-sharing plan had an account balance of $250,000
Janell turned 70 in November of 2021. She was a participant in her employer's profit-sharing plan. Her profit-sharing plan had an account balance of $250,000 on December 31 of 2020, and $200,000 on December 31 of 2019. According to the Uniform Lifetime Table, the factors for ages 70, 71, and 72 are 27.4, 26.5, and 25.6 respectively. What is Janell's required minimum distribution for 2021?
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Fundamentals Of Taxation 2016
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
9th Edition
1259812774, 978-1259812774
