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paulbrouillet
New Member

My IRA RMD is $3887.01, split between 2 banks. I took a distribution of $16532 from one bank (to close it out) but nothing from the second bank. Does that work?

 
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macuser_22
Level 15

My IRA RMD is $3887.01, split between 2 banks. I took a distribution of $16532 from one bank (to close it out) but nothing from the second bank. Does that work?

For tax purposes you only have one IRA that is the aggregate total of all accounts.  The RMD can come from any one or more account as long as the total RMD for the total of all accounts is distributed.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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macuser_22
Level 15

My IRA RMD is $3887.01, split between 2 banks. I took a distribution of $16532 from one bank (to close it out) but nothing from the second bank. Does that work?

For tax purposes you only have one IRA that is the aggregate total of all accounts.  The RMD can come from any one or more account as long as the total RMD for the total of all accounts is distributed.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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