turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Ask the Experts All About the Refund! >> Event happening NOW!!!!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

tjmcgrady
New Member

I have both 401k and ira . can mrd be totaled and total amount be with drawn from only one account ?

This year I will be 70 and one half years old  and will need to make a MRD from my 401k and my traditional IRA. Can I total this amount and with draw the total amount from one account.For example take the total MRD from my traditional IRA .

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
MargaretL
Expert Alumni

I have both 401k and ira . can mrd be totaled and total amount be with drawn from only one account ?

Unfortunately, you cannot, as the combined accounts must be of the same type. 

A single RMD withdrawal can be made to cover the entire required amount for the year.  However, the combined accounts must be of the same type.  For example, two traditional IRAs can be combined, not an IRA account and a pension account.  

If the accounts are combined, a taxpayer may take a withdrawal from any chosen account in the amount of the total required minimum distribution required for all accounts. 

https://www.irs.gov/Retirement-Plans/RMD-Comparison-Chart-IRAs-vs.-Defined-Contribution-Plans

dmertz
Level 15

I have both 401k and ira . can mrd be totaled and total amount be with drawn from only one account ?

Even if you have multiple 401(k) plans, each 401(k) must satisfy its own RMD.  The only types of accounts that allow aggregation of RMDs are IRAs, and separately, 403(b) plans.  (RMDs from inherited retirement accounts must also be handled separately from your own.)
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies