I am 84, have $20,000 I’m my IRA. What is my minimum required withdrawal for tax year 2021?

Only other 2021 income was $46,900 from my wife’s and my Social Security.

611

Expert Alumni

Mar 4, 2022 12:50:12 PM

The place (bank/ broker) that has your IRA usually determines how much should be withdrawn each year. As long as you took out whatever amount they told you to take or more, then the entire amount on your 1099-R would be RMD.

To calculate yourself, see Retirement Topics — Required Minimum Distributions (RMDs)

Level 15

Mar 4, 2022 2:03:37 PM

are you trying to make up for a missed RMD?

your RMD for 2021 depends on your age on your birthday in 2021, not 2022.

and on the balance on Dec 31, 2020, not today's balance.

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I am 84, have $20,000 I’m my IRA. What is my minimum required withdrawal for tax year 2021?