But there's a major drawback to having a traditional retirement account. Once you turn 73, you'll be forced to take required ...

Required minimum distribution amounts are calculated by dividing a life expectancy factor into the relevant account balance from Dec. 31 of the preceding year. For instance, to calculate RMD amounts ...

If you're 73 or older, there's a good chance the IRS is expecting you to take a required minimum distribution (RMD) this year ...

A required minimum distribution (RMD) is the government's way of ensuring you'll pay taxes on money you once contributed to a ...

The IRS will come knocking for its share of your tax-deferred retirement savings when you hit 73, but planning ahead for RMDs ...

Once taken, the RMDs are taxable as income. The answer to IRS FAQs Question 11 states "The account owner is taxed at their income tax rate on the amount of the withdrawn RMD. However, to the extent ...

You can calculate yours by dividing your retirement account balance as of Dec. 31, 2024, by the distribution period next to ...