Taxable income


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.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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