Two IRA accounts at same brokerage
I would like to combine 2 IRA accounts at the same brokerage and take the total RMD at a later date. Am I breaking any rules? Thank You
You can combine the two owned IRA accounts by a “same trustee transfer” request to the IRA custodian. This is not reported on a 1099R or on your tax return. It is also not a distribution, so you can combine the accounts before or after you have completed your RMD.
Permalink Submitted by Dan Zaehring on Thu, 2022-01-27 20:30
The issue is what kind of IRAs they are. Inherited IRAs must be treated separately. Employer sponsored funds in an IRA have options not available to regular IRAs and of course there are Roth IRAs.
Permalink Submitted by CARROLL WILLIAMS on Thu, 2022-01-27 21:30
I should have said these are Rollover IRAs, not inherited, and not Roth IRAs and not Employer sponsored.