First RMD
Client turned 72 in 2022.
Can he split his RMD for the first year into 2 Distributions? A partial distribution 2022 and the 2022 RMD remaining balance in 2023 before April 1st? Then take the 2023 RMD before 12/31/23….
Client turned 72 in 2022.
Can he split his RMD for the first year into 2 Distributions? A partial distribution 2022 and the 2022 RMD remaining balance in 2023 before April 1st? Then take the 2023 RMD before 12/31/23….
Permalink Submitted by Alan - IRA critic on Thu, 2022-11-03 16:47
Yes, the client can defer all or any portion of the 2022 RMD to not later than 4/1/2023. Sometimes, taxation of SS income or other taxable income variances between the two years can result in a tax savings by determining how much to defer to the RBD year.