Question

Taxpayers must receive their first required minimum distribution from a traditional IRA by (1) 1st of the year following the year in which they reach (2) years of age.

a) January; 70 1/2
b) April; 59 1/2
c) December; 65
d) March; 72

Answer 1

The first required minimum distribution from a traditional IRA must be taken by April 1st following the year a taxpayer reaches 72 years of age.

Step-by-step explanation:

Taxpayers must receive their first required minimum distribution from a traditional IRA by the April 1st of the year following the year in which they reach 72 years of age. Therefore, the correct choice is (d) April; 72. Understanding these regulations is critical for retirement planning and ensuring compliance with tax laws.