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Returning Member
posted Jan 28, 2025 11:29:04 AM

RMD from multiple IRA's

I read what people have posted about taking distributions from multiple IRA's. The problem is that if you take the required amount disproportionately from the IRA's to fulfill your RMD, it doesn't add them when you enter each amount and tells you that you owe a penalty on one. If they don't fix it, I'll just fudge the required amounts from each.

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1 Replies
Expert Alumni
Jan 28, 2025 11:31:11 AM

Yes. This is the work around. 

 

An IRA owner must calculate the RMD separately for each IRA that he or she owns, but can withdraw the total amount from one or more of the IRAs. 

 

Similarly, a 403(b) contract owner must calculate the RMD separately for each 403(b) contract that he or she owns, but can take the total amount from one or more of the 403(b) contracts.

 

However, RMDs required from other types of retirement plans, such as 401(k) and 457(b) plans have to be taken separately from each of those plan accounts.

 

Please read this IRS FAQ for more information.