[retiredguy123]

Under current law, if you turned 72 in 2022, you must take your first RMD (required minimum distribution) from your retirement account by April 1, 2023. However, there is a bill in Congress that has a good chance to pass this year, called the Secure Act 2.0. That law would raise the age for starting your RMDs from 72 to 73. So, if you haven't yet taken your first RMD, you may want to wait at least until the end of the year to see if the law is enacted. Note, that, if the law doesn't pass, and you wait until after December 31, 2022 to take the RMD, you will need to take two taxable RMDs in 2023, one for 2022 and another RMD for 2023, which will need to be taken by December 31, 2023. Both RMDs would be taxed as income in 2023.