/ Ask Terry Questions / required minimum distribution

required minimum distribution

By Terry Savage on September 22, 2022 | Financial Planning / Retirement

in a recent article about rmd you stated it was possible that someone could pay two rmds in one year .would that be for someone like me ./ i turn 72 in february of 2023 .i thought i had till april 1st of 2024 to take my first rmd .so ,why or how could there be two in one year ? or am i wrong about when i make my first distribution ? should it be by april of 2023 ?

Terry Says

Since you turn 72 in 2023, you can delay your first RMD until April 15th (tax duedate) of 2023.
BUT you must also take a 2023 distribution by year-end 2023. That makes TWO in one year!



a personal
finance question