James Oneway wrote:
- quote -


Don't do it! You're not required to take any minimum distribution this
year (new law).

However, yes, any distribution you take this year is subject to normal
taxes.

-Mark Bole

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While watching my General Motors stock and my retirement go down the drain
last year I forgot to take a required minimum distribution form an inherited
IRA. I've found Form 5329 and understand the 50% penalty.

My broker is planning on sending me last year's distribution this year and
I'm wondering if it will be subject to normal taxes even though I've paid
50% penalty.

Thanks,
Jim

--
<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >