Solved: Seniors at age 70 have mandatory minimum IRA withdrawals. Is the minimal amount total NOT SUBJECT to federal Tax??
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Seniors at age 70 have mandatory minimum IRA withdrawals. Is the minimal amount total NOT SUBJECT to federal Tax??

TURBO Tax in my filing asked me about the total minimum amount
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New Member

Seniors at age 70 have mandatory minimum IRA withdrawals. Is the minimal amount total NOT SUBJECT to federal Tax??

Your Required Minimum Distribution is subject federal income tax if it is a retirement account that has not been previously subjected to income taxes.  This includes pensions where employer contributions have not been taxed to the individual and traditional IRAs.

RMDs from a Roth IRA are not subject to income taxes because the funds deposited into this type of account have already been subject to income taxes.

You can apply the standard deduction and the personal exemption against retirement income.

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New Member

Seniors at age 70 have mandatory minimum IRA withdrawals. Is the minimal amount total NOT SUBJECT to federal Tax??

Your Required Minimum Distribution is subject federal income tax if it is a retirement account that has not been previously subjected to income taxes.  This includes pensions where employer contributions have not been taxed to the individual and traditional IRAs.

RMDs from a Roth IRA are not subject to income taxes because the funds deposited into this type of account have already been subject to income taxes.

You can apply the standard deduction and the personal exemption against retirement income.

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Level 15

Seniors at age 70 have mandatory minimum IRA withdrawals. Is the minimal amount total NOT SUBJECT to federal Tax??

Distributions of an RMD are treated no differently than any other regular distribution from your IRA (other than the fact that an amount that is RMD is not eligible for rollover).
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