RMD

Forum|Forum|11 months ago
July 16, 2025
2 replies
13 views

My wife and I both turned 72 earlier this year, When is the earliest I can start taking RMD's from our investment accounts? Do we need to calculate our RMS's separately or together as we usually file a joint return?

Ask the Experts - Investments - July 2025

Best answer by KatieP1

The earliest you can take your first Required Minimum Distribution (RMD) is January 1st of the year you reach age 73.

You and your spouse each need to calculate your RMDs separately. The RMD will be based on the fair market value of the account(s) as of December 31st of the prior year. You can withdraw the entire required amount from just one or any combination of your IRAs. However, for other types of retirement plans like 401(k)s, the RMD must be taken from that specific account.

Note that RMDs are not required for all investment accounts. RMDs are required from the following:

Profit-sharing plans
401(k) plans
403(b) plans
457(b) plans
Traditional IRAs
SEPs
SARSEPs
SIMPLE IRAs
Roth IRA beneficiaries

Here are a few resources I've selected for your review:

IRS: Retirement plan and IRA required minimum distributions FAQs

IRS: Retirement topics - Required minimum distributions (RMDs)

TurboTax: What are required minimum distributions (RMD)?

Congratulations on reaching such an important milestone! I hope this info is helpful. I'll stay tuned in case you have any follow-up questions.

KatieP1

Answer

Employee Tax Expert

The earliest you can take your first Required Minimum Distribution (RMD) is January 1st of the year you reach age 73.

Note that RMDs are not required for all investment accounts. RMDs are required from the following:

Profit-sharing plans
401(k) plans
403(b) plans
457(b) plans
Traditional IRAs
SEPs
SARSEPs
SIMPLE IRAs
Roth IRA beneficiaries

Here are a few resources I've selected for your review:

IRS: Retirement plan and IRA required minimum distributions FAQs

IRS: Retirement topics - Required minimum distributions (RMDs)

TurboTax: What are required minimum distributions (RMD)?

Congratulations on reaching such an important milestone! I hope this info is helpful. I'll stay tuned in case you have any follow-up questions.

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VolvoGirl

Level 15

I turned 72 this year too. You have to start taking the RMD when you turn 73 . So January 2026 would be the earliest. Although you can delay taking the first year RMD until April 1 of the next year 2027. But what I started doing is taking QCD Qualified Charity Distributions from my IRA. That will reduce your balance but not be taxable. You can do QCD when you are 70 1/2. A QCD will also count for your RMD and not be taxable.