Name:   GoneFishin - Subject:   2020 IRA FYI Date:   4/5/2020 8:43:16 PM (updated 4/5/2020 8:50:05 PM)

The Care Act has a provision, that anyone required to take a minimum distribution from their IRA, will not be required to take a distribution for 2020. The reason is that the value used to calculate the distribution is based on the value as of December 31, 2019. Since the market has fallen, the distribution would be based on a value that is much greater than the current value.

Also,  if you have a IRA that has a much lower value, you might consider converting to a Roth based on todays lower value and then earn future increases tax free. You do have to pay taxes on the amount your convert.

Disclaimer....check with your accountant or Google the Care Act for yourself.