norellana
New Member

Retirement tax questions

Normally, you have to withdraw (RMD) from each of your retirement accounts. However the IRS allows you to calculate the RMD for each of your accounts and withdraw the total from the accounts of your choice. 

 

For example, if you received four 1099-R but only withdrew from one of the accounts, make sure that the entire RMD includes the total RMD for the four 1099-Forms. Turbo Tax will ask you if any of the other 3 accounts has any RMD pending. Select NO. Because you already calculate that RMD from each, but decided to take the entire RMD, form ONE account.