Where is the required minimum amount for my IRA?

[apinard]

Adding IRA distribution: Software asks for required minimum amount. It’s not on the 1099-R. Where can I find it?

[SabrinaD2]

The required minimum distribution (RMD) amount for your IRA is not listed on your 1099-R. Instead, you need to calculate it based on your account balance and your age. Here’s how you can find it:

Calculate Your RMD:

• Use the IRS RMD worksheet to calculate your RMD.
• Many financial institutions, like AARP, provide RMD calculators and guides. You can check out the AARP RMD Reference Guide.

[apinard]

I had 4 1099-Rs. For each one, TurboTax asked for the RMD. One financial institution supplies it each year for the following year. It took a lot of work but I finally figured it out for the others. I’d appreciate your confirmation that these are correct. 
- For one traditional IRA, I googled and found a calculator. The calculation matched my distribution to the penny. Great! 
- One is a “matured” account that has no balance, just a monthly payout until it expires in Jan 2026.   I assume that means there is no RMD. Correct?

- One is a non-qualified annuity, so no RMD. Correct? 

I did not have expert advice in answering these questions so I’d appreciate your confirmation that I got the last two right.

[DaveF1006 · Accepted solution]

Yes, your assumptions are correct. According to this IRS publication, RMD calculations are calculated by dividing the prior December 31 balance of that IRA or retirement plan account by a life expectancy factor that the IRS publishes in Tables in Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs). So if the second RMD had no account balance on December 31, there's no RMD requirement.

You are correct about RMD rules concerning non-qualified annuities. Non-qualified annuities aren't subject to RMD rules during the owner's lifetime. These annuities are funded with after-tax dollars, so the IRS doesn't require mandatory withdrawals.   

@apinard