Turbo Tax program is suggesting you plan on taking distribution at 70 and 1/2. Shouldn't that be updated to reflect age 72? I thought that the required distribution date was changed to 72? Since I am 70 now, that is very important information. Thanks for any help.
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The age from which you are required to take Required minimum Distributions has been raised to 72 from tax year 2020. For 2019 and earlier, it was 70 1/2.
Please read this IRS document for more information.
The age from which you are required to take Required minimum Distributions has been raised to 72 from tax year 2020. For 2019 and earlier, it was 70 1/2.
Please read this IRS document for more information.
Turbo Tax people need to change that in the program!
Its been a month and a half and they still haven't updated it.
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