Series 7 - General Securities Representative Exam

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John has retired from his job and turned 70 years old on January 10th 2019. In the following year, which of the following statements is TRUE regarding John's Traditional IRA?

John must take his first RMD
A
John cannot take any distributions
B
John can take a distribution if he pleases, but it an RMD is not required until 2021
C
John can not take an RMD from his Traditional IRA because it is not a Roth IRA
D

Explanations

John's first RMD must be taken by 4/1 of the year after he turns 70½. Since he turned 70 1/2 in 2019, he must take an RMD in 2020. Roth IRA's do not have RMDs. The new SECURE Act does not affect RMDs for individuals that turned 70 1/2 in 2019. The new SECURE Act does, however, change the RMD rules for 2020