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kljowlf
October 25, 2020
Question

Rmd

  • October 25, 2020
  • 1 reply
  • 0 views

If  we did not contract covid-19 in 2020 can we not take our rmd in 2020?

If we do not take a rmd in 2020 will it be taxed in later years?

1 reply

Critter-3
Critter-3
October 25, 2020
@kljowlf wrote:

If  we did not contract covid-19 in 2020 can we not take our rmd in 2020?

If we do not take a rmd in 2020 will it be taxed in later years?

The RMD was forgiven for ALL taxpayers for 2020  ... no one is required to take one.  And it will not come back to hurt  you in the future.   https://www.irs.gov/newsroom/irs-seniors-retirees-not-required-to-take-distributions-from-retirement-accounts-this-year-under-new-law#:~:text=The%20Coronavirus%20Aid%2C%20Relief%2C%20and,their%20first%20RMD%20in%202020.

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