From IRAs to 529s, our experts answer your questions

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With Christmas and New Year's just days away, WalletPop hopes to spread some holiday cheer. Here are answers to some of your questions to help usher in 2010 on the right financial footing.

Question: We're retirees age 70 and older holding an IRA rollover. In 2010, will we have to take money/stock out of our IRA? In 2009, we did not have to.
--Barbara J. LeFeve

Answer from Gary Lesser, author of Quick Reference to IRAs: For 2009 Contributions
The relief available for 2009 required minimum distributions (RMD) has not been extended. Thus, absent another extension (which I believe is unlikely), the next required minimum distribution from the taxpayer's traditional IRA will be for calendar year 2010. That distribution -- the 2010 distribution -- must be made by Dec. 31, 2010. However, for individuals reaching age 70 1/2 in 2010, the traditional IRA RMD amount may be distributed up until April 15, 2011.