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Right, with regard to qualified retirement plans, periodic payments being received as an annuity are their own RMDs. For qualified retirement plans that are not being paid out as periodic payments from annuity, these require separate distributions of RMDs based on the previous year's yer-end balance.
Does your traditional IRA hold an annuity? If so, what type of annuity-- such as immediate, longevity, or deferred variable annuity? This can get complicated, so I'm going to ask someone familiar with retirement plans to assist here.
@dmertz Are you able to assist here when you are next in the forum? Thanks.
If you get regular payments that satisfies the RMD. But yes you have to take the RMD from any IRA and 401K accounts starting the year you turn 70 1/2. If you are turning 72 you should have started taking it by April 1, 2019. So in 2019 you need to take 2 years of RMD.
Right, with regard to qualified retirement plans, periodic payments being received as an annuity are their own RMDs. For qualified retirement plans that are not being paid out as periodic payments from annuity, these require separate distributions of RMDs based on the previous year's yer-end balance.
Thank you!
Thank you!
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