Early RMD
I have a client that took a normal distribution from his IRA at the beginning of 2024. He turns 73 in June 2024. Does this distribution count as part of his IRA RMD for 2024?
I have a client that took a normal distribution from his IRA at the beginning of 2024. He turns 73 in June 2024. Does this distribution count as part of his IRA RMD for 2024?
Permalink Submitted by Alan - IRA critic on Fri, 2024-05-17 15:48
Yes, any distribution in an RMD distribution year is applied first to the RMD, and therefore is not eligible for rollover. Therefore, all or part of the 2024 RMD has been completed.