A. Many people thought the first RMD is due when they turn age 70, wrong!
The first RMD from individual retirement accounts and other retirement accounts starts from the year you turn 70.5, not when you celebrate your 70th birthday!
Furthermore, IRS allows you to take your first RMD until April 1st of the calendar year after the year you reach 70.5. Although after that, the second RMD is due year-end, which means if you delay your first RMD, you might have to take two RMDs at the same year which could push you into a higher tax bracket.