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carm
New Member

Failed to take my RMD for the first time. I don't know how much to withdraw or how to withdraw. I was distracted by having two deployments back to back.

I was on a 6 month deployment to KSA with a Mobile Training Team when I turned 70. I was unaware of the 70 and1/2 rule that states that I must take RMD when I reach that age.  My deployment ended in June.

I'm not one to pay attention to birthdays and therefore I just proceeded with my job and before I knew it I had been scheduled to go on another MTT. As I prepared to pack my bags I realized that I would need to do my taxes while overseas (Hanoi, Vietnam,) so I carried my extra personal laptop with me.

We were expected to return 6 months later but ended up having to return the end of March due to the covid 19 pandemic so we were in transient during the last days in March and arrived in San Antonio on April 2nd. There have since been a lot of interruptions preventing me from doing my taxes before the deadline.

 

 

 

 

 

 

 

 

 

 

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1 Reply

Failed to take my RMD for the first time. I don't know how much to withdraw or how to withdraw. I was distracted by having two deployments back to back.

Did you turn 70 1/2 in 2019?   If so then you had until April 1 of 2019 to take the first RMD.  Then the Coronavirus happened  and the CARES act has waived ALL RMD's for 2019.   That means that you do not need to take any RMD, including the first, until 2021.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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