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Get your taxes done using TurboTax
The law allows you to take RMD from one account to cover RMD from all accounts. Therefore, you may have multiple retirement streams and IRAs but only one or a few distributions. The IRS looks at your balances and distributions over all of your accounts. The IRS requires the distributions and has penalties for not taking them. The program can't know how many retirement accounts you have vs what you take.
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‎February 10, 2025
7:09 PM