Did I already take my Required Minimum Deduction (RMD)?

mitaxdummy · ‎February 2, 2025

I think I know the answer to this question, but I just want to secure a "YUP!" from the experts here ...

I turned 73 in 2024. I withdrew more than enough funds in 2024 for a bathroom remodel to meet the RMD dollar requirement. Am I correct in thinking that my next RMD withdrawal is not due until December 21, 2025?

Thanks!

MinhT1 · ‎February 2, 2025

Yes, you are correct because you have satisfied the RMD requirement for 2024.

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SteamTrain · ‎February 2, 2025

And since you turn 74 in 2025 (21 Dec?) you can take it any time in 2025, you don't have to wait until your birthday. The RMD amount/divisor/% for 2025 is set based on your age right after your birthday...i.e 74 for 2025.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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Did I already take my Required Minimum Deduction (RMD)?