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JobyM
New Member

I am 71 years old and retiring this year. Do I have to take RMD from my 401K and if I do how do I calculate what I need to take?

 
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1 Reply
TomD8
Level 15

I am 71 years old and retiring this year. Do I have to take RMD from my 401K and if I do how do I calculate what I need to take?

Your first RMD must be taken by April 1 the year after you retire.  The investment company that holds your 401K will normally calculate your RMD for you.  Otherwise, the IRS offers worksheets:  https://www.irs.gov/retirement-plans/plan-participant-employee/required-minimum-distribution-workshe...

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

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