Required minimum disstribution – first year
Taxpayer is age 70 in April of 2016 and wants to take some of his RMD in January of 2016. Will this distribution quality as part of the RMD even though he has not yet reached age 70-1/2?
Taxpayer is age 70 in April of 2016 and wants to take some of his RMD in January of 2016. Will this distribution quality as part of the RMD even though he has not yet reached age 70-1/2?
Permalink Submitted by Alan - IRA critic on Mon, 2016-04-18 21:12
Yes, any distribution taken in the year TP will reach 70.5 is considered to apply to the RMD for that year.