Re: Should I take a percentage out of my 401K for ... - Community
Level 15

Retirement tax questions

As a result of the SECURE act passed in 2020, if you have not reached the age of 70-1/2, then your first RMD does not have to be taken until you reach age 72-1/2.  If you reached the age of 70-1/2 in 2019 or earlier, you must continue to take RMDs even if you are not age 72-1/2.

 

Separately, the CARES act for coronavirus relief suspended the RMD requirement for everyone for the year 2020.

*Answers are correct to the best of my ability but do not constitute legal or tax advice.*
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