Individual Retirement Accounts - Required Minimum Distributions (RMDs) for IRA Owners
Jan 01, 2023
Example #1: Your 73rd birthday is June 30, 2024. You must take your first RMD (for 2024) by April 1, 2025.
Example #2: You turn 73 on July 15, 2024. You must take your first RMD, for 2024, by April 1, 2025. You must take your second RMD, for 2025, by December 31, 2025 and your third RMD, for 2026, by December 31, 2026.
Example #3: You turn 78 on August 1, 2024. Your IRA adjusted market value was $440,000 on December 31, 2023. Your distribution period is 22.0 for 2024. Your RMD for 2024 is $20,000 ($440,000/22.0).
Example #4: You turn 78 on September 15, 2024, and your spouse turns 49 on June 10, 2024. The adjusted value of your IRA on December 31, 2023 is $375,000. Your distribution period is 37.5. Your RMD is $10,000 ($375,000/37.5).
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