topic How can I calculate RMD? in Retirement tax questions

How can I calculate RMD?

1940ceramics — Tue, 27 Apr 2021 22:47:41 GMT

I called administrator and was referred to IRS Pub 721. I am trying to determine how to calculate RMD based on info on the 1099. Is that possible?

Re: How can I calculate RMD?

SweetieJean — Tue, 27 Apr 2021 22:54:43 GMT

Most RMD's were suspended for 2020. If you are asking about 2021, see this:

IRA Required Minimum Distribution Worksheet (irs.gov)

Re: How can I calculate RMD?

1940ceramics — Tue, 27 Apr 2021 23:16:55 GMT

Thanks for the reply. Am doing taxes for my Dad who passed away in May... I called administrator and was told IRS pub 721 would be where to find out how to calculate... should I assume zero for 2020?

Re: How can I calculate RMD?

VolvoGirl — Tue, 27 Apr 2021 23:19:44 GMT

Yes 0. When it asks if this is a RMD say NO. There is no RMD for 2020. Or was this from a pension?

Re: How can I calculate RMD?

VolvoGirl — Tue, 27 Apr 2021 23:23:14 GMT

I looked up Pub 721. That seems to be for retirees. If this was a pension then say Yes it was all the RMD. Anything a pension pays you is considered to be the RMD.

Re: How can I calculate RMD?

fanfare — Wed, 28 Apr 2021 02:26:32 GMT

@1940ceramics

The rules for RMD calculation are found in IRS Pub 590B.