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Level 1
posted Oct 25, 2023 1:14:00 PM

IRA Withdrawal

I am 67 years old.  I have been on Social Security since February 2023 after reaching my full retirement age as of December 2022.  What is the minimum amount I am required to withdraw from my IRA for Tax Year 2024?

0 1 390
1 Replies
Employee Tax Expert
Oct 25, 2023 1:22:50 PM

You don't have to withdrawal anything from your IRA in 2024.  You must (are required) to start withdrawing from your IRA starting with the year you reach age 73 (since you did not reach the age of 72 before December 31, 2022).