Can you take out more than the RMD that is due
Being the first time taking out an money from my IRA, my husband has done this previous years. Can I take out more than the RMD from one institution without getting a penalty.
Thank you.
Genevieve Comfort
Permalink Submitted by Alan - IRA critic on Wed, 2016-09-21 20:00
Yes, you can withdraw as much as you want or are willing to pay taxes on. There is no penalty, but there is ordinary income tax. However, you must withdraw at least the RMD amount.