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As you approach 70, tips like these can help trim your RMDs Taking required minimum distributions from tax-deferred accounts starting at age 70 1/2 can inflate retirees' taxable income and boost their tax bill, according to this article on MarketWatch. To minimize their RMDs, retirees may want to roll over a portion of their traditional IRA into a Roth IRA or use their IRA funds to buy a Qualified Longevity Annuity Contract. They are also advised to maximize their IRA withdrawals within their tax bracket before turning 70 1/2 and to make bigger withdrawals for living expenses and leisure. They can also avoid paying taxes on RMDs by taking qualified charitable distributions directly from their IRA.

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