Quote:
Originally Posted by Hape2Bhr
If you turn 72 after July 1, 2021...you can defer your first RMD until April 1, 2022. However, you must also take your second RMD before the end of the year 2022. This could possibly put you in a higher tax bracket because you've taken two distributions in one year.  |
Huh? The way I understand the rule, you must take the RMD in the year that you turn 72. So, if you turn 72 in 2021, you must take the RMD starting in 2021, and every year thereafter. It doesn't matter when you take it during year, it is taxable income for the 2021 tax year. The RMD was waived for 2020 because of COVID.