IRA required distribution for those over 701/2
Is it true that the IRS/Govt. ruled that the usual required IRA distribution for those over 701/2 will not be required for 2020 taxes?
Terry Says
That’s correct. No RMDs are required in 2020. And if you took one earlier in the year, you can return it by August 31st with no penalty.
And by the way, future retirees don’t have to start taking RMDs until age 72!
