Question

Traditional individual retirement annuity (IRA) distributions must start by:

a) Age 59 ½
b) Age 70 ½
c) Age 55
d) Age 62

Answer 1

Traditional individual retirement annuity (IRA) distributions must start at age 72 ½.

Step-by-step explanation:

The distribution of traditional individual retirement annuity (IRA) must start at age 72 ½.

A traditional IRA is a long-term, tax-sheltered time deposit where individuals can direct pretax income towards investments that grow tax-deferred.

Currently, tax laws allow individuals to contribute up to $5500 ($6500 if age 50 or older) to all of their traditional and Roth IRAs for 2014 and 2015.