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06-04-2020, 06:44 PM #1
IRA mandertory (age) take out is changed.
Didn't have any clue this! Some text and link..
Beginning in 2020, however, the new age at which RMDs must start is age 72 (also with a deadline of April 1 of the following year). Notably, RMDs for individuals who turned 70 1/2 in 2019 are not delayed, and instead, such individuals must continue to take their RMDs under the same rules prior to passage of the SECURE Act. Despite the delay in the starting age for RMDs, though, Qualified Charitable Distributions (QCDs) from IRAs will not be affected by the SECURE Act; accordingly, QCDs may still be taken from IRAs as early as age 70 1/2.
https://www.kitces.com/blog/secure-a...-1-2-qcd-2020/
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06-04-2020, 09:22 PM #2
Yes also the recent CARES ACT passed does not require a minimum distribution for 2020 even if 72 years old or older
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06-04-2020, 10:20 PM #3
Yep, heard 2020 RMD is suspended.,.
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06-05-2020, 10:59 AM #4Junior Member
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A Survivorship IRA can no longer be spread out over the beneficiary's life time, existing ones are grandfathered in.
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06-05-2020, 12:13 PM #5
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06-05-2020, 08:44 PM #6The Historic Photo Master
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...required minimum distributions(RMD's) don't apply to Roth IRA's. True or false?
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06-05-2020, 08:54 PM #7
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06-05-2020, 09:59 PM #8
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