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New Member
posted Jun 1, 2019 3:01:10 PM

I have been receiving money from my pension and IRAs for several years. I turned 70 1/2 in 2018. Does RMD apply to me?

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1 Best answer
Level 15
Jun 1, 2019 3:01:11 PM

Yes you do. You need to determine if the amount you took from the IRA in 2018 satisfies the RMD.

https://www.bankrate.com/finance/money-guides/ira-minimum-distributions-table.aspx

If not, since 2018 is your first official RMD year, you can make up the difference by taking the rest by April 1, 2019.  However, that additional amount (as well as the 2019 RMD that must be taken by 12/31/2019) goes on the 2019 tax return that you file in early 2020. 

2 Replies
Level 15
Jun 1, 2019 3:01:11 PM

Yes you do. You need to determine if the amount you took from the IRA in 2018 satisfies the RMD.

https://www.bankrate.com/finance/money-guides/ira-minimum-distributions-table.aspx

If not, since 2018 is your first official RMD year, you can make up the difference by taking the rest by April 1, 2019.  However, that additional amount (as well as the 2019 RMD that must be taken by 12/31/2019) goes on the 2019 tax return that you file in early 2020. 

New Member
Jun 1, 2019 3:01:13 PM

Yes RMD applies to you.