RMDs for 73-Year old in 2024
My client will turn age 73 in May 2024. It is my understanding that he can defer his 1st year required minimum distribution to no later than April 1 of 2025 as long as he takes two distribution in the calendar year 2025. Is this a correct interpretation and thank you?
Permalink Submitted by Alan - IRA critic on Wed, 2024-02-21 20:13
Yes, that’s correct. The 2024 RMD can be deferred in part or entirely to 4/1/25, but if deferred the combined total RMD might spike his marginal rate in 2025.