A Taxpayer Must Begin Withdrawals from Any Type of Retirement

question 102

True/False

A taxpayer must begin withdrawals from any type of retirement plan (except a Roth IRA) no later than April 1 of the tax year after the taxpayer reaches age 70¹/₂ or, if later, the year they retire.

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Definitions:

Bloodstream

The flowing blood within the circulatory system of the body, responsible for transporting oxygen, nutrients, waste, and other substances.

Estrogen

A group of steroid hormones that play a crucial role in the development and regulation of the female reproductive system and secondary sex characteristics.

Testosterone

A primary male sex hormone crucial for the development of male reproductive tissues, as well as promoting secondary sexual characteristics and influencing behaviors.

Ovaries

The female gonads or sex glands.