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Lots of conflicting information. If someone has been taking their regular RMDs for several years, are they required to take their 2020 RMD?
Thanks.
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ALL RMD's are suspended.
Having started them years ago is irrelevant.
( Generic Comment )"
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I disagree-just checked required minimum distributions on irs website-current 'rmd' recipients must continue taking distributions. taxpayers turning 70 and 1/2 after December 31, 2019 do NOT have to take rmd until age 72. would appreciate hearing other viewpoints
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You're mixing apples & oranges.
The extenders act passed late Dec said one doesn't have to START taking RMDs until 72.
The CARES (et al) Act said any/all RMD's for 2020 can be suspended.
( Generic Comment )"
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You are mixing up two different new laws: " taxpayers turning 70 and 1/2 after December 31, 2019 do NOT have to take rmd until age 72. would appreciate hearing other viewpoints"
The change to 72 is part of the SECURE act. This is "from now on."
The deferral on RMD is part of the CARES act. This is "Crisis mode, temporarily."
"Level Up" is a gaming function, not a real life function.
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thanks. I appreciate the clarification, was looking at seminar material from last year also.
