My spouse and I are 71 and approaching age 72 and will be required to take RMD's from our retirement accounts next year. I have both an individual IRA account set up from roll overs from previous 401-K accounts and a 401-K account from my current employer. My spouse has a 403-B account from her employer. I have no contributions directly to the individual IRA but continue to make regular contributions thru payroll deductions from my employer. My spouse make no current contributions to the 403-B account and has not for several years. We both currently work part time and along with our SS income the wages we earn allow us a comfortable living. We both plan on retiring next year when we turn 72. We do have substantial savings outside of the tax deferred structures. We know we must begin taking RMD's but we are not sure how that must be done with the multiple accounts. We file as joint taxpayers on our tax return. Can we aggregate all our accounts and take the RMD from just one account or must we take a RMD from each account separately?
We likely will not need the distribution for living expenses at least for a few years because of our non-tax deferred accounts.
