I’m a 74-year-old (October) recently displaced employee (June) and am currently receiving severance pay, due to end in June 2025.  The separation from service triggered the requirement to start receiving RMDs from my 401k, either one RMD this year and one next year, or delay until next year (since it’s my first) and receive two RMDs, with each RMD being roughly $75,000.  With the single RMD and the severance pay, my income will be effectively double through 2025 when the severance ends.  I’m trying to understand if using NUA to satisfy my RMD is a beneficial strategy for me.  I’d appreciate any guidance.  The current value of my employer stock is $207,687, cost basis $159,365, and net unrealized appreciation $48,322.  Does it make sense to do a partial NUA transaction in the amount of my RMD this year, since I’ll be paying ordinary taxes on that amount anyway?  I would lose the opportunity to take the remainder of the NUA since it has to be done in the same year, but if I delay until next year, the extra $150,000 would be a much bigger tax hit than the extra $75,000.  Also, do I understand correctly that I would pay ordinary taxes on the cost basis of the stock and not on the RMD amount which is based on the current value?  If so, doesn’t that mean the amount I would pay in taxes would actually be less than what I would pay if just taking the RMD and not using the NUA strategy?