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6 required minimum distribution (RMD) rules. Here’s a summary of six RMD rules you should know. Tax-deferred accounts have RMDs. You must take RMDs from any tax-deferred account, including a:
If you’ve reached age 72, you must take RMDs. Use this table as a guide.
The RMD for any given year is the total account balance in your IRA, or IRAs, as of the end of the immediately preceding calendar year (i.e., the account value at year-end 2024 for tax year 2025 ...
Instead of taking RMDs based on your own life expectancy, you may be able to take RMDs based on the original owner's life expectancy. That results in a smaller distribution from the inherited account.
Those who inherited IRAs since 2020 can avoid taking RMDs in 2024. If you inherit an IRA, you may be subject to RMDs. Under the SECURE 2.0 Act of 2022, if you inherit an IRA from someone who's ...
Image source: Getty Images. 1. RMDs apply to tax-deferred accounts like traditional IRAs and 401(k) plans. The government lets workers delayed tax payments on contributions made to certain account ...
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