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URL:  http://boards.fool.com/so-we-got-to-talking-about-rmds-and-someone-that-30467346.aspx

Subject:  Re: Another TMF Question Date:  1/4/2013  9:07 PM
Author:  TMFPMarti Number:  117303 of 121180

So, we got to talking about RMDs and someone that I think should know insisted that the first RMD had to be taken AFTER the person was 70 1/2 and before April 1 of the next year. I thought is was in the year they reached age 70 1/2 and before etc. and it didn't matter if it was before or after 70 1/2.

The good news is that, as stated, you're both wrong. You must take your first RMD for the year in which you turn 70 1/2. To make it easier, let's say the person in question turns 70 1/2 in 2013.

(S)he must take an RMD for 2013 between 1/1/2013 and 4/1/2014. It is based on 12/31/2012 balance and 12/31/2013 age.

(S)he must take an RMD for 2014 between 1/1/2014 and 12/31/2014. It is based on 12/31/2013 balance and 12/31/2014 age.

The reference in Pub 590.

Phil
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