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Level 15
October 22, 2025

It is too late now to use online TurboTax to start a new return--even for 2024 as a "dummy" return.   The 2025 software will be out in late November/early December.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Level 2
October 22, 2025

How does one create estimates of what they need to distribute from IRA accounts for the next year?

Cindy4 12
Employee Tax Expert
Employee Tax Expert
October 23, 2025

It sounds like you may be asking about Required Minimum Distributions.  By law, your IRA administrator (brokerage, bank, etc.) is generally required to calculate the RMD for the next year based on your December 31st account balance and inform you of the amount by January 31st.  This document should be either mailed to you or electronically delivered, if that's the choice you made to receive communications from them.

 

Hope this helps!

Cindy

 

 
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