QCD – 1st Year – When
For a QCD, the beginning age is 70 1/2. My question is, can you take it out anytime during the year when you are 70 1/2 or do you have to wait to take the withdrawal until you are actually 70 1/2?
For a QCD, the beginning age is 70 1/2. My question is, can you take it out anytime during the year when you are 70 1/2 or do you have to wait to take the withdrawal until you are actually 70 1/2?
Permalink Submitted by Alan - IRA critic on Thu, 2024-10-24 15:48
You must have reached 70.5 to the day.
Also, note that any deductible IRA contribution made at age 70 or later will reduce QCDs, so if you plan to use QCDs, best to not make a deductible TIRA contribution.