Can I draw money out of an inherited it’s more than once a year!

[cemetris05]

Inherited ira

[rjs]

Yes, you can make as many withdrawals as you want to from an inherited IRA. All the IRS cares about is that the total amount that you withdraw over the course of the year is at least the required minimum amount, and that you withdraw all the money in 5 years or 10 years if that is required in your particular situation. It doesn't matter whether you withdraw the required amount all at once, or in several smaller withdrawals. You can always withdraw more than the required amount at any time.

The Form 1099-R that you get at the end of the year will show only the total amount that you withdrew for the year. It does not show the individual withdrawals. The individual withdrawals are not reported to the IRS, just the total for the year, so the IRS doesn't even know how many withdrawals you made.