Q. My father turned 70½ in 2014 but died early in 2015. Did he need to take an RMD from IRAs for 2014? M.K., Sherman Oaks, Calif.
A. No. Under the rules for required minimum distributions (RMDs), you must begin taking an annual payout after attaining age 70½. For the first year only, you can postpone the RMD until April 1 of the following year. This is your “required beginning date” (RBD). If someone dies before their RBD, no distribution is required for the year of death. However, if you die after the RBD and didn’t take the entire RMD for the year of death, your beneficiaries must take the balance of the RMD before the end of that year.
Tip: The RMD for the year of death is calculated as if you had lived for the entire year.
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