@centerall49 wrote:
My question is about pension payouts and RMD. In calculating how much money I withdrew from retirement accounts can I add my pension payout for the year (on 1099-R) to the withdrawal total for the year, also on a 1099-R, from my IRA custodian?
I'm guessing the answer is no because the value of the pension is not known and therefore is not part of the calculation for the total of retirement account balances.
Thanks for your help!
Each "class" of retirement account has a separate RMD requirement. You calculate the RMD for your traditional IRAs based on the aggregate total of your IRA accounts only. If you have more than one IRA, you still only have one calculated amount you must withdraw, and you can take if from your IRAs in any combination. If you also had a 401k or 403b, that class of account has a separate RMD requirement and separate calculation. And your pension payment is considered an RMD from itself, because the payout is calculated based on your life expectancy. It only counts against itself and not against any other RMD.
