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jmillsp
Level 3

Turbo Tax notes planning for retirement distribution at age 70 1/2

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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MinhT1
Expert Alumni

Turbo Tax notes planning for retirement distribution at age 70 1/2

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.

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3 Replies
MinhT1
Expert Alumni

Turbo Tax notes planning for retirement distribution at age 70 1/2

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

jmillsp
Level 3

Turbo Tax notes planning for retirement distribution at age 70 1/2

Turbo Tax people need to change that in the program!

kalis11
New Member

Turbo Tax notes planning for retirement distribution at age 70 1/2

Its been a month and a half and they still haven't updated it.

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