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RMD stops after a couple of years even though tax deferred account is not empty in prc2024.1.Bronze

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 GH
(@galenhuie)
Active Member Customer
Joined: 1 month ago
Posts: 3
Topic starter  

Hi, I just download the bronze version yesterday to trial but something in the RMD doesn't seem right. To re-produce the issue, just open the default bronze file and change the default age of Joe to either 50 or 45. Then go to the "TABULAR PROJECTION" tab and you'll see the "Required Minimum Distributions from Tax-Deferred Savings" stop after Barb dies. I tried extending Barb's life from the default 90 to 100, but it made no difference.

I found this when I used my real age "49" and my spouse's age "50" and set both of our life expectancies to "90". I get 5 years of RMD and then is simply stops.


   
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(@smatthews51)
Member Admin
Joined: 4 years ago
Posts: 718
 

@galenhuie Hi Galen, thanks for the post with the clear explanation and screenshot! Sure enough, that's an error I inadvertently introduced last week in the course of making a change to the RMD calculations. The new formula was correct but I had failed to apply it to all future years. I've just uploaded an update to correct the problem, so you can now login, go to the members page and download an update. When you've had a chance to do that, please confirm that the issue is resolved.

Thanks!

Stuart


   
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 GH
(@galenhuie)
Active Member Customer
Joined: 1 month ago
Posts: 3
Topic starter  

I just got the new Bronze file and at a quick glance everything including the RMD looks good. Thanks for looking into this so quickly.

GH


   
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(@smatthews51)
Member Admin
Joined: 4 years ago
Posts: 718
 

@galenhuie You're welcome! Thanks for making me aware of the issue.


   
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