RMDs
Question – Firm A calculated my IRA RMD for 2024 to be $2,000. I estimated 2025 RMD to be around $2,100.
Firm B calculated my IRA RMD for 2024 to be $5,000. I estimated 2025 RMD to be about $5,100.
Will IRS allow below:-
For 2024, from Firm A, I will take 2024 RMD, but NONE from Firm B
For 2025, from Firm A, I will take 2025 RMD. From Firm B, I will take 2024 RMD, then 2025 RMD
Afterward, I will do some Roth IRA conversion either from Firm A or Firm B only if my AGI will NOT land me in next higher tier IRMMA.
Permalink Submitted by Alan - IRA critic on Tue, 2024-05-28 15:10
Yes, your total 2024 RMD of 7000 can be taken in any combination from your IRA accounts, including taking it entirely from a single account. This rule applies each year.
In 2025 your 2024 RMD from B has already been completed because you took it from A in 2024. It sounds like you plan to complete the 2025 RMD for each IRA from that particular IRA account.
If you plan to do a Roth conversion, you must have first completed your total RMD (again in any combination from the 2 accounts) before you can complete any conversion.
And if you plan any QCDs, you should complete the QCD before completing your RMD.