RMD
I have a question about the required minimum distribution for IRA. What is this based on and how is it calculated for example, if I have $100,000 in my IRA What will be my minimum distribution?
I have a question about the required minimum distribution for IRA. What is this based on and how is it calculated for example, if I have $100,000 in my IRA What will be my minimum distribution?
Permalink Submitted by Alan - IRA critic on Mon, 2024-10-07 17:00
Determine the Uniform Table divisor for you attained age in the RMD year. Divide the prior year end balance by that divisor to determine the RMD amount.
However, the joint life table is used if your spouse is your sole beneficiary and is more than 10 years younger than you are.
The first IRA RMD will be around 3.8% of your prior year end balance. RMDs start at age 73 if you were born between 1951 and 1959, age 75 if born after 1959.