CNBC interviewed Tax Principal Michael D’Addio about 2021 rules governing required minimum distributions from retirement accounts.
By Andrew Osterland
D’Addio, however, suggests that people may want to defer their RMD until the end of the year because of possible additional rule changes. “There will be more legislation this year and RMDs could be affected,” he said.
Rather than trying to time the market with your RMD, you’re better off making some asset allocation changes within the account. “If you think the market will drop precipitously, you can sell investments in the account and distribute the cash later, D’Addio said.
Coronavirus Resource Center
Have more questions about the impact of the coronavirus on your business? Visit Marcum’s Coronavirus Resource Center for up-to-date information.