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Retirement tax questions
@rkbuss wrote:
If I've taken a full distribution in 2002 from my non spouse inherited IRA to eliminate future RMA's am I required to calculate and report what the 2020 RMD amount would have been. For example the full distribution was $20,000 and the estimated RMD would be be $810.
For 2020, the RMD requirement was removed so answer "no" in the program.
In general, an "RMD" is a required minimum withdrawal. If your RMD was $800 and you closed the account, then you certainly met the RMD requirement, by withdrawing more than the minimum.
March 8, 2021
11:09 AM