I turn 70 1/2 in July. I understand I have to take the RMD from my 401K by April, 2019. Do I have to take a full year's RMD for 2018, or just 6 months (or 1/2 year)?

Forum|Forum|7 years ago
June 6, 2019
5 replies
67 views

My birthdate is 1/14/1948.

TurboTax Deluxe Online

Best answer by Critter

The RMD is the amount you must take for the 2018 tax year... you cannot prorate it.

The 2018 amount must be taken in full by 4/1/19 ... you can take some in 2018 and the balance in 2019 but the entire amount must be withdrawn from the IRA account. You don't have to wait until July to start taking the distributions and if you do wait to take the 2018 distributions in 2019 remember that the 2019 distribution MUST be made in 2019. The option to wait is ONLY allowed for the first RMD.

CritterAnswer

Level 15

The RMD is the amount you must take for the 2018 tax year... you cannot prorate it.

dmertz

Level 15

Just be aware that if you choose to contribute any of this to charity as a Qualified Charitable Distribution, you must wait until you have actually reached age 70½ in July to make the QCD. Any distribution that you receive in 2018 prior to reaching age 70½ will apply toward your 2018 RMD but will not be a QCD.