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Level 1

Question

How do I calculate RMD?

Forum|Forum|3 years ago
April 3, 2023
3 replies
4 views

No text available

TurboTax Deluxe Online

Level 15

The bank or financial institution that handles your retirement account can calculate your RMD for you. Ask them or check on their website.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

Level 15

Generally, a RMD is calculated for each account by dividing the prior December 31 balance of that IRA or retirement plan account by a life expectancy factor that the IRS publishes in Tables in Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).

Please read this IRS document for more information.

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Level 15

See IRS pub 590B for Distributions. There is a RMD worksheet starting on page 46
https://www.irs.gov/pub/irs-pdf/p590b.pdf