I had read something recently that one of the part of the CARES Act passed, because of the Corona Virus, is that retirees are not required to take their RMD (Required Minimum Distribution) this year. Not having to take this distribution would lower my mom's tax liability for 2020, as she would be reporting less income. My understanding of how her retirement RMD was set up is that she has half distributed in March and half in September. Unfortunately I didn't know about this suspension of the RMD until a few days ago. If I had known, within 60 days of her first distribution this year, I could have had it "returned" to her investment account, but that one is too late now.
But, I was able to contact her broker and have her suspend the distribution for September. My mom has plenty in her savings account (from her house sale) so that she doesn't need to live off her distributions, for at least this year. Her 2nd half distribution would have been a little over $17,000, so I'm estimating that not having to report that as income will save her approximately $2000 for 2020 federal and state taxes. And allows her money to stay in her investment portfolio and still be part of her principal balance to grow. Less income will also have an effect on her Social Security and could help reduce her cost for Medicare Part B, thereby increasing her monthly payment just a bit, once that is taken into account.
In other news with my mom. She obviously isn't remembering the name of her old retirement living place or the name of her new place. The names aren't even similar in any way. I was checking her emails to delete any spam and checked her sent emails. She had received an email asking her to do a brief "exit survey" of why she left her old place. She emailed back with this reply:
At this time I have no reason to move out of R*****!! So
far I am very happy here!!! I'm sure I will even like it more when we
can get out of our rooms & meet everyone and get involved!
Oh goodness! Luckily it was a "no reply" type of email address she replied back to, as she was supposed to click on the link to do the survey. I went ahead and did the survey, so they don't email her again to try to get her to do the survey. (not that she probably would have even remembered the email or her reply anyway........). BUT, on a good note - I guess she likes it at her new place :)