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With the Secure Act 2.0, raising the age to start RMD in 2024 to age 73, I still need to know how to prepare for tax liability since I turn 73 in May 2024?
I am trying to avoid a double RMD distribution in the first year, I turn 73 in May 2024 but I haven't received clear information on how to start the dispersal because the Secure Act keeps raising the age since I turned 70 in 2021 because of the Secure Act. Having a birthdate in the middle of the year changes the when but also makes it more liable to 2 dispersals in same year because everything is based on the tas year filing dates. (April to March). versus the regular year January to December. I called the fidurary where my 401 is last year 2023, right after I turned 72 and found that the Secure Act 2.0 upped the age again to 73 which applied to everyone born after January 2023's cutoff date. Did the age go up again in 2024 to start RMD?
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‎February 1, 2024
9:32 AM