RMD Aggregation and Age Requirements of Roth and Traditional IRA Accounts

Thursday, July 28, 2022

By Sarah Brenner, JD
Director of Retirement Education
Follow Us on Twitter: @theslottreport

Question:

Can an RMD from an inherited IRA be taken out of your own traditional IRA?

Jack

Answer:

Hi Jack,

Aggregation of required minimum distributions (RMDs) can be complicated and we get a lot of questions on this topic. You can aggregate RMDs and take the total amount from one IRA in some cases. For example, if you have more than one of your own IRAs, you can aggregate your RMDs from each and take the full amount from one IRA. However, you cannot aggregate RMDs from IRAs you inherit with RMDs from IRAs that are your own. You cannot take the RMD from the inherited IRA from your own IRA.

Question:

My wife and I are ages 71 and 69 respectively, retired and not working. Are we eligible to contribute to Roth or traditional IRAs?

Answer:

Age is never a barrier when it comes to IRA contributions. However, there is a requirement that you have taxable compensation or earned income to make an IRA contribution. If you and your spouse are both retired and are not working, you will not be able to make an IRA contribution.

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