To calculate your RMD, simply divide the account balance by the life expectancy factor. Therefore, $1 million divided by 24.6 ...

Let’s say you’re 73 years old. You would have a Life Expectancy Factor of 26.5. If you have an account balance of $250,000 as of December 31 of last year, you would divide $250,000 by 26.5 ...

2. New Rules for 2024 RMDs have changed significantly in 2024. First, the IRS has released a new life expectancy table. You'll need the numbers on this table to determine exactly how much you're ...

The new tables “give you about one to two years more in life expectancy,” Slott said. CNBC used this example: Under the new uniform life table, a 75-year-old would use 24.6 as their factor.

That is, your 2021 RMD would be based on the old life expectancy tables and the account's balance on Dec. 31, 2020. Your 2022 RMD would be based on the new tables and the balance at the end of 2021.

The new life expectancy table means that everyone’s RMD has changed. RMDs have changed significantly in 2024. First, the IRS has released a new life expectancy table.