RMD 1st year
Bill will be 72 in October 2021. He took $10k from his IRA in January 2021. His RMD for this year will be $15k. Does the $10k count towards his RMD if he took it before he turned 72 or does he have to take the full $15k RMD after he turns 72? Thanks
Permalink Submitted by Alan - IRA critic on Sat, 2021-06-26 15:16
The 10k counts toward the 2021 RMD. The first distribution in any RMD calendar year is deemed to apply to the RMD and therefore it cannot be rolled over or converted. He has 5k left to complete the RMD or to take as a QCD which counts toward the RMD but will not be taxable. Accordingly, if he is making any charitable contributions, he should probably switch over to making them as QCDs for the added tax benefits.