Retired Taxpayers Over 59½ Years of Age at the End

question 166

True/False

Retired taxpayers over 59½ years of age at the end of the year must receive minimum distributions from defined contribution plans or they are subject to a penalty.

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Definitions:

Adipose Tissue

A type of body fat that plays a key role in storing energy, insulating the body, and protecting organs.

Fat Cells

Specialized cells that store energy in the form of fat and regulate metabolism.

Eustachian Tube

A small canal that connects the middle ear to the throat, helping to equalize air pressure on both sides of the eardrum and drain fluid from the middle ear.

Ear Infections

Inflammations or infections of the ear, which can affect the outer, middle, or inner parts, often causing pain, fluid buildup, and sometimes hearing loss.