RMD-Secure Act
Have a client that turns 70 1/2 on 05/08/2020. Does she have to take an RMD this year?
If not, is she able to choose to start taking her RMDS if she wanted to? Or would this just be considered a normal distribution?
Just want to make sure understand this correctly that anybody that turns 70 1/2 after the new year 2020 they are not required to take an RMD. Only if they were 70 1/2 in 2019 they would continue their regular RMDS.
Thanks!
Permalink Submitted by Alan - IRA critic on Tue, 2020-01-28 19:54
Yes, you are correct. She is not subject to RMDs until 2021. She can certainly take any distribution she wants this year, but it has no affect on RMDs other than to reduce the IRA balance at the end of 2020 which will reduce the first RMD for 2021.