Aggregating RMD’s
Hello,
I have a client (81 years old) that has a traditional IRA and a IRA BDA (non-spouse). The client has taken enough distributions out of the traditional IRA to satisfy the total RMD amount due for both the TIRA and IRA BDA. Can the amount taken out of the TIRA be applied to the RMD amount due for the IRA BDA? I’m thinking no because you would want a separate 1099R for each amount but I was looking for some guidance.
Thank you.
Permalink Submitted by Alan - IRA critic on Wed, 2024-11-20 10:47
You are correct, these RMDs must be separately satisfied. Owned IRA RMDs can be aggregated only with other owned IRAs and beneficiary RMDs can only be aggregated with other beneficiary accounts inherited from the same decedent. These IRA aggregation rules also apply to 403b accounts.