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Level 1

Will any amount in excess of the balance of my RMD for 2018 (the year I became 70-1/2) paid before April 1, 2019 count toward the 2019 RMD due by December 31, 2019?

Example: RMD for 2018 (the year I attained age 70-1/2) is $16,000. I paid $15,000 in 2018 and $4,000 before April 1, 2019. Will $1,000 of the $4,000 be treated as satisfying the RMD for 2017, with the remaining $3,000 being applied toward the RMD for 2019 due by December 31? Or is the entire $4,000 allocable to 2018 (effectively an overpayment of the RMD for 2018)? And is there a ruling or regulation that clearly addresses this question?

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Level 1

Will any amount in excess of the balance of my RMD for 2018 (the year I became 70-1/2) paid before April 1, 2019 count toward the 2019 RMD due by December 31, 2019?

Yes.  Any amount you withdraw in 2019 that is over and above the 2018 RMD amount will count towards your 2019 RMD.  The April 1 deadline is only applicable to the 2018 RMD when you turn 70-1/2, and is irrelevant for the 2019 RMD.  It can be taken anytime during calendar 2019.

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Level 1

Will any amount in excess of the balance of my RMD for 2018 (the year I became 70-1/2) paid before April 1, 2019 count toward the 2019 RMD due by December 31, 2019?

Yes.  Any amount you withdraw in 2019 that is over and above the 2018 RMD amount will count towards your 2019 RMD.  The April 1 deadline is only applicable to the 2018 RMD when you turn 70-1/2, and is irrelevant for the 2019 RMD.  It can be taken anytime during calendar 2019.

View solution in original post

Level 1

Will any amount in excess of the balance of my RMD for 2018 (the year I became 70-1/2) paid before April 1, 2019 count toward the 2019 RMD due by December 31, 2019?

Thank you for the clear response!
Level 1

Will any amount in excess of the balance of my RMD for 2018 (the year I became 70-1/2) paid before April 1, 2019 count toward the 2019 RMD due by December 31, 2019?

You are welcome!  Thanks for using TurboTax!!!