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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1 Best answer

Expert Alumni

Feb 22, 2021 9:30:52 AM

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.

Expert Alumni

Feb 22, 2021 9:30:52 AM

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.

Level 3

Feb 22, 2021 9:46:28 AM

Turbo Tax people need to change that in the program!

New Member

Apr 7, 2021 7:21:04 AM

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

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