The CARES Act recently enacted has given taxpayers a pass on the Required Minimum Distribution Rules (RMD's) for 2020.
If you would like to skip taking your RMD this year - you can do so without penalty. This will give your assets time to recover from any losses you may have incurred if invested in the stock market and will also reduce your tax burden for the year. Of course this only works if you have other non-qualified resources to cover your needed living expenses. If you have already taken your RMD this year - you do have 60 days from the date of distribution to roll it back into the account.
Also important to note - the SECURE Act which was passed late last year made changes the RMD rules as well. If you did not turn 70.5 by Jan 1, 2020 - you now have until age 72 to start your RMD withdrawals. There are changes to the RMD rules for descendant estates going forward as well - but that is a topic for another time.