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I received a bunch of stuff from Schwab today concerning RMD on my IRA. They are stating that since I turn 70.5 this year I must take a RMD THIS year. Up until now I have always understood that RMD's must start the year after I turn 70.5, and I see info on the web (perhaps old info) that says the year after. Has something changed? What is correct?

You must take your first RMD FOR the year your turn 70.5. You may choose to delay that distribution until April 1 of the year AFTER you turn 70.5.

If you do delay that first distribution, you still have to take another distribution by December 31 for that year (and every year after). That would put two distributions into one tax return - which may or may not be to your advantage.

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