RMD

[rbowler]

I turned 70 on 11/9/2019.  With the new law, do I have to take my first RMD in 2020 or may I wait until I turn 72 in 2021?

[MayaD · Accepted solution]

Yes, you can wait until you turn 72. The new tax Law raises to 72 from 701/2 the age at which you must begin taking RMDs from your retirement accounts. The new law only applies to people who turn 70½ after December 31, 2019.

[reikigirl]

I turned 70 on 7/27/19 so the new rmd tax law applies to me, is that correct?  The TurboTax premier program does not address the new law, no update yet.