Turbo Tax notes planning for retirement distribution at age 70 1/2

Turbo Tax program is suggesting you plan on taking distribution at 70 and 1/2. Shouldn't that be updated to reflect age 72? I thought that the required distribution date was changed to 72? Since I am 70 now, that is very important information. Thanks for any help.

MinhT1
Expert Alumni

Retirement tax questions

The age from which you are required to take Required minimum Distributions has been raised to 72 from tax year 2020. For 2019 and earlier, it was 70 1/2.

 

Please read this IRS document for more information.

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Retirement tax questions

Turbo Tax people need to change that in the program!

kalis11
New Member

Retirement tax questions

Its been a month and a half and they still haven't updated it.