Required Minimum Distributions (RMD)

I reached age 72 in late 2021 and was therefore subject to the RMD from my thrift savings plan. I have been getting monthly payments from this account but didn't bother to calculate what the minimum requirement would be for 2021. The fund managers informed me in January 2022 that I hadn't met my RMD for 2021 and subsequently distributed the remainder to me in March 2022. The way I read the rules surrounding the RMD, this is okay as long as I received the full amount prior to April1, 2022. However, the way TurboTax poses the question it leads one to believe that I should have received it all in 2021.

Is my interpretation correct or should I have received the entire amount in calendar year 2021?

780

Level 15

Mar 4, 2022 5:02:38 PM

Since you just turned 72, you will not be penalized,

but the portion you got in 2022 will go on your 2022 tax return.

Tell turbotax what you got was ALL RMD.

Level 2

Mar 4, 2022 5:40:40 PM

That's what I thought but wanted to make sure and, like I said, the way TurboTax phrased the question it made me wonder.

Thanks so much for your quick response.

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Required Minimum Distributions (RMD)