topic Just turned 72 years old in March of 2023, in what year do I have to take a Mandatory minimum withdrawal. from my IRA? in Get your taxes done using TurboTax

Just turned 72 years old in March of 2023, in what year do I have to take a Mandatory minimum withdrawal. from my IRA?

arosekrans — Tue, 24 Feb 2026 06:53:03 GMT

Re: Just turned 72 years old in March of 2023, in what year do I have to take a Mandatory minimum withdrawal. from my IRA?

DoninGA — Wed, 26 Jul 2023 15:04:00 GMT

April 1 of the year following the calendar year in which you reach age 72 (73 if you reach age 72 after Dec. 31, 2022).

So you would need to take an RMD from the IRA on or before April 1, 2025.

IRS website for Required Minimum Distributions - https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds

Re: Just turned 72 years old in March of 2023, in what year do I have to take a Mandatory minimum withdrawal. from my IRA?

fanfare — Wed, 26 Jul 2023 17:00:32 GMT

In 2023, the age for starting RMD changed from 72 to 73.

@arosekrans

Re: Just turned 72 years old in March of 2023, in what year do I have to take a Mandatory minimum withdrawal. from my IRA?

Opus 17 — Wed, 26 Jul 2023 17:07:59 GMT

@DoninGA wrote:

April 1 of the year following the calendar year in which you reach age 72 (73 if you reach age 72 after Dec. 31, 2022).

So you would need to take an RMD from the IRA on or before April 1, 2025.

IRS website for Required Minimum Distributions - https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds

The way I would describe it is that your first RMD is due when you turn 73 (year 2024). You do get a grace period until April 15 of the following year, but if your take your 2024 RMD in Spring of 2025, you will also have to take your 2025 RMD before December 31, 2025. If you are ok with taking two withdrawals the same year, then no problem. But if you want to spread it out, you may want to take a withdrawal towards your RMD I 2024.