How will receiving Social Security benefit affect my RMD ? Any age dependencies?
You'll need to sign in or create an account to connect with an expert.
The amount of your RMD is not affected by Social Security benefits. The amount of the Required Minimum Distribution you take from a retirement account like an IRA is determined by your age, the amount of money in the retirement account and your life expectancy factor.
The amount of tax you owe/refund will be determined by the TOTAL amount of income you receive, including your SS benefits and the money from your retirement account (and any other sources of income you have). You will enter all of that into your tax return along with how much tax was already withheld from the income; the software will calculate whether you owe more or get a refund.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
user17620428287
New Member
monnie46
Level 1
lucialaferriere
New Member
sethness
Returning Member
sparadis2316wb
New Member