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Can my entire RMD come from any of my IRA accounts?

 
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3 Replies

Can my entire RMD come from any of my IRA accounts?

Yes but only from IRA accounts.  And if you have any inherited IRA accounts those are separate.  

MinhT1
Expert Alumni

Can my entire RMD come from any of my IRA accounts?

Yes.

 

An IRA owner must calculate the RMD separately for each IRA that he or she owns, but can withdraw the total amount from one or more of the IRAs. 

 

If you are sure that you have satisfied all RMD requirements, then in TurboTax, on each RMD withdrawal, answer that The entire distribution was an RMD then on the following page, enter the amount of the distribution as the RMD amount for that IRA.

 

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

 

Similarly, a 403(b) contract owner must calculate the RMD separately for each 403(b) contract that he or she owns, but can take the total amount from one or more of the 403(b) contracts.

 

However, RMDs required from other types of retirement plans, such as 401(k) and 457(b) plans have to be taken separately from each of those plan accounts.

 

Please read this IRS FAQ for more information.

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norellana
New Member

Can my entire RMD come from any of my IRA accounts?

Normally, you have to withdraw (RMD) from each of your retirement accounts. However the IRS allows you to calculate the RMD for each of your accounts and withdraw the total from the accounts of your choice. 

 

For example, if you received four 1099-R but only withdrew from one of the accounts, make sure that the entire RMD includes the total RMD for the four 1099-Forms. Turbo Tax will ask you if any of the other 3 accounts has any RMD pending. Select NO. Because you already calculate that RMD from each, but decided to take the entire RMD, form ONE account. 

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