topic HOW DO YOU KNOW HOW MUCH OF THE DOLLAR AMOUNT APPLIES TO TO THE RMD THAT NEEDS TO BE TAKEN OUT in Retirement tax questions

HOW DO YOU KNOW HOW MUCH OF THE DOLLAR AMOUNT APPLIES TO TO THE RMD THAT NEEDS TO BE TAKEN OUT

anne615 — Sun, 09 Feb 2020 00:11:10 GMT

Re: HOW DO YOU KNOW HOW MUCH OF THE DOLLAR AMOUNT APPLIES TO TO THE RMD THAT NEEDS TO BE TAKEN OUT

fanfare — Sun, 09 Feb 2020 00:37:36 GMT

you, or your custodian for you, will calculate the RMD. Then take out at least that much.

Re: HOW DO YOU KNOW HOW MUCH OF THE DOLLAR AMOUNT APPLIES TO TO THE RMD THAT NEEDS TO BE TAKEN OUT

JotikaT2 — Sun, 09 Feb 2020 00:38:16 GMT

The Required Minimum Distribution (RMD) is actually a fixed amount that must be taken out each year once you reach 70 1/2 each year. Your plan administrator should be following the rules to ensure you are taking the RMD.

Attached is a link to the IRS worksheet if you need to determine what amount is.

RMD Worksheets - IRS

Also is a link with more information on RMD's.

What is a RMD help article