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That results in a bigger RMD because an older beneficiary's life expectancy is shorter than the younger original owner's was. However, the IRS made a ruling in 2024 that says you can now deplete ...
The Secure 2.0 Act increased the required minimum distribution age from 72 to 73 starting in 2023. Starting in 2033, the RMD age jumps to 75. But this creates a problem for anyone born in 1959.
July 19, 2024 at 9:40 AM. Brendan Smialowski / Getty. ... If the deceased owner of the IRA had a RMD, then the beneficiary's annual distribution will be based on their own life expectancy, with ...
Anyone who inherited an IRA from an owner who was already taking RMDs will need to continue taking annual distributions. While the RMD rule isn't retroactive, the 10-year rule still applies for ...
For 2024, you must withdraw your RMD from your account before Jan. 1, 2025, with one exception: If you turned 73 in 2024, you have until April 1, 2025, to make your RMD. Let's use an example to ...
Anyone who inherited an IRA subject to annual RMDs between 2020 and 2024 will not have to make a distribution this year if they don't want to. They still have to deplete the account within 10 ...