Quote:
Originally Posted by Paperboy
I turned 70 in Sept. 2016. I was told by someone that I should take my RMD by March 2017 THAN next year take my normal RMD for 2017 in 2018; in this CORRECT???
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The clock starts the year you turn 70 and 1/2 , which in your case is 2017. So you are required to take an MRD for the year 2017. However , since this is your first year , you have the ability to wait until March of 2018. However, if you do that, you will also have to take your 2018 MRD by Dec 2018. Depending on your income, that could jump you into a higher tax percent bracket for 2018 for some of that extra income.
But the tax brackets have a large spread. ie 2016 taxable income married joint 25% $75,300 to $151,900.