651761
You'll need to sign in or create an account to connect with an expert.
Yes. You need to be taking required minimum distributions from all your Traditional IRAs. According to page 6 of pub 590B under the headings, "when must you withdraw assets? (required minimum distributions)" and "IRA owners", "if you are the owner of a traditional IRA, you must generally start receiving distributions from your IRA by April 1 of the year following the year in which you reach age 70 1/2. April 1 of the year following the year in which you reach age 70 1/2 is referred to as the required beginning date.
Under the heading, "distributions by the required beginning date", it goes on to say, "You must receive at least a minimum amount for each year starting with the year you reach age 70 1/2 (your 70 1/2 year). If you do not (or did not) receive that minimum amount in your 70 1/2, then you must receive distributions for your 70 1/2 year by April 1 of the next year..." https://www.irs.gov/pub/irs-pdf/p590b.pdf
Yes. You need to be taking required minimum distributions from all your Traditional IRAs. According to page 6 of pub 590B under the headings, "when must you withdraw assets? (required minimum distributions)" and "IRA owners", "if you are the owner of a traditional IRA, you must generally start receiving distributions from your IRA by April 1 of the year following the year in which you reach age 70 1/2. April 1 of the year following the year in which you reach age 70 1/2 is referred to as the required beginning date.
Under the heading, "distributions by the required beginning date", it goes on to say, "You must receive at least a minimum amount for each year starting with the year you reach age 70 1/2 (your 70 1/2 year). If you do not (or did not) receive that minimum amount in your 70 1/2, then you must receive distributions for your 70 1/2 year by April 1 of the next year..." https://www.irs.gov/pub/irs-pdf/p590b.pdf
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
bobjohnson25
New Member
lkljunky
Returning Member
danilol
Level 4
likesky1010
Level 3
deedso57
New Member