Q. My birthday is June 30, 1944, so I turn 70-1/2 on Dec. 30, 2014. Do I draw on this by Dec.30? Or if I wait until April, do I have to do two payments in 2015?
A. Deferring some or all of your 2014 RMD into 2015 will reduce your taxable income for 2014, but increase your taxable income for 2015.