Lots of conflicting information. If someone has been taking their regular RMDs for several years, are they required to take their 2020 RMD?
Thanks.
This discussion has been locked. New comments cannot be posted on this discussion anymore. Start a new discussion
ALL RMD's are suspended.
Having started them years ago is irrelevant.
I disagree-just checked required minimum distributions on irs website-current 'rmd' recipients must continue taking distributions. taxpayers turning 70 and 1/2 after December 31, 2019 do NOT have to take rmd until age 72. would appreciate hearing other viewpoints
You're mixing apples & oranges.
The extenders act passed late Dec said one doesn't have to START taking RMDs until 72.
The CARES (et al) Act said any/all RMD's for 2020 can be suspended.
You are mixing up two different new laws: " taxpayers turning 70 and 1/2 after December 31, 2019 do NOT have to take rmd until age 72. would appreciate hearing other viewpoints"
The change to 72 is part of the SECURE act. This is "from now on."
The deferral on RMD is part of the CARES act. This is "Crisis mode, temporarily."
thanks. I appreciate the clarification, was looking at seminar material from last year also.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.