Permalink Submitted by Alan - IRA critic on Mon, 2023-02-06 15:55
His first RMD distribution year is 2022, but the 2022 RMD can be deferred to as late as 4/1/2023, so there is less than 2 months left before that deadline. The 2023 RMD based on the 12/31/2022 balance must be completed by 12/31/2023. These RMDs can be withdrawn anytime within the year but prior to the deadline. If the 2022 RMD is deferred to 2023, then both years RMDs will be taxable in 2023.
Permalink Submitted by Alan - IRA critic on Mon, 2023-02-06 15:55
His first RMD distribution year is 2022, but the 2022 RMD can be deferred to as late as 4/1/2023, so there is less than 2 months left before that deadline. The 2023 RMD based on the 12/31/2022 balance must be completed by 12/31/2023. These RMDs can be withdrawn anytime within the year but prior to the deadline. If the 2022 RMD is deferred to 2023, then both years RMDs will be taxable in 2023.