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New Member
posted Aug 28, 2021 7:38:26 AM

Do we need to take the money out from our IRA account this year?

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3 Replies
Level 15
Aug 28, 2021 7:48:45 AM

No one here would know if you need to withdraw from an IRA account.

Why do you ask?

Level 15
Aug 28, 2021 8:03:23 AM

In case you are wondering, and are of an age where you are normally expected to take an RMD from an IRA ...., while RMDs were suspended for 2020 taxes, Congress has not suspended taking an RMD for 2021 taxes.

Level 15
Sep 1, 2021 5:27:11 AM

Required Minimum Distributions (RMD) were not required for 2020, because of the Covid law.  Congress has not extended (and is not expected to extend it) that provision to 2021.   So, RMDs are required for 2021, for those who fall under the standard RMD rules.