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Retirement tax questions
again, no.
1) Each 401k account's RMD must be withdrawn individually form each 401k they have (some people do have more than one 401k <or TSP>)
2) BUT IRAs are handled differently....you total all your IRAs together (and only the IRAs) and then you can withdraw the RMD from one IRA.
But an IRA is Not a 401k
.......and their RMDs must be dealt with separately. so the excess from the 401k cannot be used to satisfy the IRA RMD.
1) Each 401k account's RMD must be withdrawn individually form each 401k they have (some people do have more than one 401k <or TSP>)
2) BUT IRAs are handled differently....you total all your IRAs together (and only the IRAs) and then you can withdraw the RMD from one IRA.
But an IRA is Not a 401k
.......and their RMDs must be dealt with separately. so the excess from the 401k cannot be used to satisfy the IRA RMD.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎June 6, 2019
6:10 AM