RMD — two in one year??
Hello, thanks for all your great work for people like me. Here is my situation:
in January 2022, I took my first ever RMD. I am turning 72 in October 2022. Did I take it too early? Do I have to take RMD again in 2022 or wait until 2023?
Terry Says
OK, I’m assuming you turned 70 in 2021, and waited until January 2022 to take your first RMD. That’s perfectly legal, since you did it before April 15th of the year following your 70th birthday.
Now, you must take another RMD for THIS year, before year-end. Yes, TWO RMDs in one year!! Make sure you do it!!
