Treatment of RMD in Lifetime Planner

jjmccoy32
jjmccoy32 Member ✭✭
In the Lifetime Planner feature, I question the treatment of mandatory withdrawals (Minimum Required Distribution). It seems that the planner does NOT reflect the changes made by the SECURE Act PL 116-94 which defines that, if your birthday is after July 1, 2019, the MRD is required at age 72. It seems that the program still uses age 70.

Answers

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    Which version are you running?  (Help > About Quicken)
    R44.20 includes "Updated Lifetime Planner calculations to reflect new tax laws and tax rates."  While some tax updates were apparently made with this version it does look like those changes did not include the update to the RMD.  However, if you have not yet updated to at least this version you might want to do so because of the tax changes that were incorporated.
    There is a Product Idea suggesting that the RMD be updated and it shows that it is under consideration:  Update Lifetime Planner to Reflect RMD Changes to IRAs due to SECURE Act.  I suggest you review it and if you agree with it go to the 1st page of the thread and at the bottom of the very 1st post click on the triangle to cast your vote for it.  Quicken does pay attention to the Product Ideas and the more users who vote for an idea the more likely it is that they will add it to their product development plan.  Here is an example of what that voting button looks like (circled in red).

    (Quicken Classic Premier Subscription: R54.16 on Windows 11)

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