Born 1959 IRA RMD quirk
In the February 2023 Ed Slott IRA Advisor it was mentioned that someone born in 1959 had 2 possible IRA RMD ages, 73 or 75. The tax law would need to be clarified to determine which applied. In the June 2024 newsletter on “Fundamentals of Lifetime RMDs” no mention was made of the age 75 possibility. Has something changed?
Many thanks as always …. Mary
Permalink Submitted by Alan - IRA critic on Sun, 2024-07-07 15:56
There is unanimous agreement that Congress intended that the RMD age for those born in 1959 to be 73, however Congress has not yet passed the technical corrections bill that makes this official. There will be several additional issues included in that bill that also need correction.