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i don'tknow what to put as my RMD

 
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2 Replies
SabrinaD2
Expert Alumni

i don'tknow what to put as my RMD

To calculate your Required Minimum Distribution (RMD):

  1. Find Your Account Balance: Look at the balance of your retirement account as of December 31, 2024.
  2. Use the IRS Life Expectancy Table: Find the distribution period (or "life expectancy") that corresponds to your age on the IRS table. You can find the tables here and here.
  3. Calculate Your RMD: Divide your account balance by the distribution period.

For example, if your account balance is $100,000 and your distribution period is 25.6, your RMD would be 100,000/25.6 ​=3,906.25

 

Alternatively, a simpler way may to be to o use online calculators like this one from Calculator.net or Investor.gov to help with the calculation

i don'tknow what to put as my RMD

What do you have a 1099R for?  If it is for a pension,  Say all of it is the RMD.   If you need to take the RMD it will ask you if it is the RMD.  Say yes.  Anything your pension pays you is considered to be the  RMD.  Traditional pensions automatically fulfill the rules of an RMD. So for the RMD question put in the same amount as box 1.

 

If it is for a IRA or 401K you can ask the plan.  Did they tell you how much to take at the beginning of the year?     Or did you decide how much to take out?  

 

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