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Retirement tax questions
The required minimum distribution (RMD) is calculated by the financial institution or plan administrator for your retirement distribution. You should simply answer yes, this is an RMD and you can always check with the plan administrator. They are usually quite clear on the rules and the amount that is required to be distributed to you each year.
This begins when you start taking distribution at a certain age, which was a lower age when yours began than it is now. It is calculated based on earnings and your age when it begins. The link below will give more details about the RMD.
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‎February 27, 2024
2:30 PM