University of Tennessee Space Institute

This is a $300 per return limit for 2020. The contribution deduction was increased to $600 for 2021. The mandatory age for required minimum distributions (RMDs) from IRA or 401(k) plans was increased in 2020. If you turned 70 ½ in 2020 or later, you are not required to take a RMD until the year you reach age 72. ................
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