The following is the information is only, you can take advised from the Tax advisor
The IRS requires that you start taking withdrawals from your qualified retirement accounts (IRA accounts, 401(k)s, 457 plans and other tax-deferred retirement savings plans like a TSP, 403(b), TSA, SEP, or SIMPLE) once you reach age 70 1/2. This requirement is called a required minimum distribution, or RMD.
When Must You Start Taking Required Minimum Distributions? First RMD must occur by April 1st of the year after you reach age 70 1/2, but most people will find it most tax-efficient to take their first distribution in the year they reach age 70 1/2.
Example: Bob’s birthday is in February. Thus he turns 70 1/2 in August. His first distribution must occur by April 1st of the following year, although he could take it in the current year. If Bob waits until April 1st of the year following the year he turns 70 1/2, he will have to take a required minimum distribution for both years. His decision to wait and take two distributions in the second year, or take his first distribution in the year he turns 70 1/2 should be based on which option will result in the least taxes over those two years.
Can You Direct Your RMD to a Charity? You can direct your RMD to a charity, and it will not be reported as taxable income on your tax return. This provision was a temporary provision in the tax code but was made permanent starting in 2016. It is called a “qualified charitable distribution.
How Do I Calculate My Required Minimum Distribution? To determine how much you have to withdraw, take your prior year’s December 31st IRA account balance, look up your age on the appropriate table, and divide your account balance by the factor (remaining distribution period) based on your age.
Example: Bob had $100,000 in his IRA on December 31st of the prior year. Bob is 70 and decides to take his first distribution in the year in which he turns 70 1/2. $100,000 / 27.4 = $3,649.63 This is the amount Bob must withdraw for the calendar year in which he turns 70 1/2.