RMD Question

Submitted by Gregg Guiol on Tue, 2019-01-22 20:34

Question concerning first year of RMD … I have gone braindead !!

Date of birth 7/24/1948, so individual becomes 70 1/2 on 1/24/2019 …

So the individual needs to take the RMD here in 2019. In saying that, the age used for the calculation (the first distribution) should be 71, correct ? (being that the individual will be 71 years of age in the 2019 calendar year)

Thank you in advance for assisting.

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Permalink Submitted by Alan - IRA critic on Tue, 2019-01-22 20:46

Correct. RMD divisor to be 26.5 unless their spouse is sole beneficiary and more than 10 years younger. The required beginning date will be 4/1/2020 should individual prefer to defer all or part of the 2019 RMD to 2020.