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markhanke
New Member

Will there be an RMD for 2020 tax year?

 
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tagteam
Level 15

Will there be an RMD for 2020 tax year?

The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, including beneficiaries with inherited accounts.

 

See https://www.irs.gov/newsroom/irs-seniors-retirees-not-required-to-take-distributions-from-retirement...

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3 Replies
tagteam
Level 15

Will there be an RMD for 2020 tax year?

The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, including beneficiaries with inherited accounts.

 

See https://www.irs.gov/newsroom/irs-seniors-retirees-not-required-to-take-distributions-from-retirement...

View solution in original post

DoninGA
Level 15

Will there be an RMD for 2020 tax year?

Go to this IRS website for information - https://www.irs.gov/newsroom/irs-seniors-retirees-not-required-to-take-distributions-from-retirement...

 

The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, including beneficiaries with inherited accounts. This waiver includes RMDs for individuals who turned age 70 ½ in 2019 and took their first RMD in 2020. Roth IRAs do not require withdrawals until after the death of the owner. 

Hal_Al
Level 15

Will there be an RMD for 2020 tax year?

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