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Asked 12/11/2008

I am retiring 01/2009 and want to know how much withdrawal I will have to take from 401K

I am 73 years old and am retiring as of 01/2009. I am leaving my 401K with my company, and want to know how much I will have to withdraw in 2009?

 
 
 
 
 
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Answer 1/1 - Submitted 12/11/2008

You have to take the MRD, which will depend on the value of the 401k on Dec 31,2008 and your beneficiary's age, as well as your age. There are tables to calculate all this. Download Pubs 590 and 575 from irs.gov.

 
 
 
 
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