I turn 73 in Dec this year. Must I take my RMD by April 15 of 2025? Also do you include all of your retirement accounts? Currently I have an annuity from an IRA-Rollover that I take out monthly payments. Would those be considered my RMD for only that account? I also have another IRA
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The amount of your RMD depends on the balances that you have in your various retirement accounts and is usually calculated for you by your brokerage. If you have accounts with multiple brokerage companies, remember that they only have the information that you tell them. Each one will give you an RMD calculation based on the balances of the accounts held at their institution.
It is up to you which account you take your RMDs out of, though. If you have three accounts with different brokerages and the RMD for each of those three accounts is $10,000 -- then you have to take out $30,000. But you can take that all from a single account or divide it up however you would like.
The IRS does provide information on how to calculate these amounts yourself, if you want to dive in with your favorite calculator. All of the Q&As on the IRS's Retirement plan and IRA Required Minimum Distributions FAQs page are useful, but #4 is the one with the calculation information.
Note: since you turned 73 this year, you could choose to wait to take your first RMD until next year, as long as you've done so by April 1, 2025. But, if you do that, then you'll have two withdrawals next year -- your first one and the regularly scheduled one that must be taken by December 31 of next year.
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