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Amount of 10,200. RMD was held out-age 76 dob 03/17/1944- How do I compute the amountFor RMD?
Last problem before filing, is there a formula to
get my RMD amount?
get my RMD amount?
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February 3, 2021
2:20 PM
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Retirement tax questions
There is but you don't need to compute it. Box 1 of your 1099-R shows the correct amount. The plan administrator does the work for you. If you are still curious about how to do it, see this LINK.
February 3, 2021
2:35 PM
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Retirement tax questions
The CARES Act waived RMDs for 2020, so any distribution from a plan other than a pension was not an RMD even though that was the the original intent of the distribution.
IRS Pub 590-B provides the method for calculating RMDs: https://www.irs.gov/pub/irs-pdf/p590b.pdf
February 3, 2021
2:45 PM