Multiple IRA’s RMD
We have several IRA’s and must now start our RMD. Question, can we add the total of all RMD’s together and withdraw from only one of the IRA’s
Your insight is appreciated.
Thanks in advance for your responses
We have several IRA’s and must now start our RMD. Question, can we add the total of all RMD’s together and withdraw from only one of the IRA’s
Your insight is appreciated.
Thanks in advance for your responses
Permalink Submitted by Theodore Gudorf on Sat, 2007-11-17 17:34
yes
Permalink Submitted by Alan Spross on Sat, 2007-11-17 23:42
Just be aware that combining the balances and applying a divisor may not be correct in all cases, even for owned accounts. To be sure, each IRA’s RMD using it’s own divisor should be used and the RMD amounts added together. The divisor could be different in certain cases, such as having one IRA beneficiary as a spouse more than 10 years younger, and having another account with a child as beneficiary.