You might need to take a little extra time in 2022 to plan your required minimum distributions (RMDs) from IRAs, 401(k)s, and other qualified retirement plans. The starting age was changed from 70 1/2 to 72 and how RMDs get calculated for inherited IRAs changed for year 2020. This year, the life expectancy tables were changed.
The new tables have slightly longer life expectancies than the old tables, making RMDs a little bit lower under the new tables than the old ones. This change is easy enough for IRA owners over age 72, but for those who inherited an IRA prior to 2020 (and have been calculating RMDs under the old rules), it is more complicated. Click the link to learn more: