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Esteemed Contributor
KathyPet
Posts: 5,660
Registered: ‎03-09-2010

Re: CLOSE TO DEADLINE FOR IRA REQD. MINIMUM DISTRIBUTION

‎12-28-2016 03:42 PM

@Allegheny

IRS rules say you must take your first minimum distribution for the year in which you become 70.5 years of age.  HOwever the first payment can be delayed until,April 1 of the following year.  HOwever as you pointed out for all subsequent years including the year in which you were paid the first required minimum distribution by April 1 you must take another required distribution by Dec 31 of that year.  SO two distributions in one tax year.  DOn't see where that delay benefits anyone unless your income were to drop substantially in the year you took the two distributions.  THen you might benefit.  OTherwise I don't see what it gains you.

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Respected Contributor
Allegheny
Posts: 3,993
Registered: ‎03-19-2010

Re: CLOSE TO DEADLINE FOR IRA REQD. MINIMUM DISTRIBUTION

‎12-28-2016 04:13 PM

@KathyPet  I agree.

 

DH will start his distribution in 2017.  We were just tossing around if there were any way/ways we could defer payments.  For tax purposes, it just is not wise for us to delay till 2018.

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