Retirement tax questions

If this is a Traditional IRA and you are the IRA owner then the RMD for 2022 is the value of the IRA as of Dec. 31, 2021 that you get from your year end IRA value that is divided by the Uniform Lifetime Table for your age.

 

See IRS Pub 590B for how to calculate it and appendix table III - it is simple to calculate.

https://www.irs.gov/publications/p590b

 

(The financial institution should be able to calculate it to the penny unless they are inept, in which case you should find a new custodian  for your account .)

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**