IRA Distributions

[jimcphillips]

I am about to turn 72 and have a traditional IRA. When and how much do I need to withdraw?

[DoninGA]

If you reach age 70 ½ in 2020 or later you must take your first RMD by April 1 of the year after you reach 72.

Contact your IRA plan administration and they will calculate the RMD and distribute it to you on a date you specify after you reach age 72 in 2022.

If you take the RMD in 2023 before April 1, 2023 then you will also have to take another RMD on or before 12/31/2023.

[LudwigVan_fan]

This will lay things out for you.  Also provide links for further detail

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-di...