UPDATED FOR TAX YEAR 2019
Contact the financial institution holding the IRA and have them adjust future distributions to match the RMD.
While you cannot contribute to a traditional IRA, you can contribute to a Roth IRA. Contributions can be made to your Roth IRA after you reach age 70-1/2 and you can leave amounts in your Roth IRA as long as you live.
Generally, you can contribute to a Roth IRA if you have taxable compensation and your modified AGI is less than:
- $203,000 for married filing jointly or qualifying widow(er),
- $137,000 for single, head of household, or married filing separately and you did not live with your spouse at any time during the year; and
- $10,000 for married filing separately and you lived with your spouse at any time during the year.
[Edited | 4/10/2020 | 9:25am PDT]
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