HOW DO YOU KNOW HOW MUCH OF THE DOLLAR AMOUNT APPLIES TO TO THE RMD THAT NEEDS TO BE TAKEN OUT

Forum|Forum|6 years ago
February 9, 2020
2 replies
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TurboTax Deluxe Online

fanfare

Level 15

you, or your custodian for you, will calculate the RMD. Then take out at least that much.

JotikaT2

Alumni - Expert

The Required Minimum Distribution (RMD) is actually a fixed amount that must be taken out each year once you reach 70 1/2 each year. Your plan administrator should be following the rules to ensure you are taking the RMD.

Attached is a link to the IRS worksheet if you need to determine what amount is.

RMD Worksheets - IRS

Also is a link with more information on RMD's.

What is a RMD help article

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HOW DO YOU KNOW HOW MUCH OF THE DOLLAR AMOUNT APPLIES TO TO THE RMD THAT NEEDS TO BE TAKEN OUT

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