how do I find my RMD for 2024?

[SabrinaD2]

To find your Required Minimum Distribution (RMD) for 2024, follow these steps:

1. Determine your age: You need to know your age as of December 31, 2024.
2. Find your account balance: Check the balance of your retirement accounts (e.g., IRA, 401(k)) as of December 31, 2023.
3. Use the IRS life expectancy worksheets: These use the tables help determine the distribution period based on your age. You can find them in IRS Publication 590-B

Example:

If you are 73 years old in 2024 and your account balance as of December 31, 2023, is $200,000:

• Numerator: Account Balance = $200,000
• Denominator: Distribution Period (from IRS table) = 24.7

To calculate your RMD:​

• RMD=200,000/24.7≈8,097.17
• So, your RMD for 2024 would be approximately $8,097.17.

You can also use online calculators to simplify this process. Here are two reliable options:

• Calculator.net RMD Calculator
• AARP RMD Calculator