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Taxpaynator
Level 1

RMD Determination

 
21 Replies
macuser_22
Level 15

RMD Determination

Please elaborate.

 

Are you trying to find out how much you 2020 RMD will be or something else?

 

IRA, 401(k), other?

 

 

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
rjs
Level 15
Level 15

RMD Determination

What is your question about RMD determination? This is a message forum, not live chat. You have to post all the details of your question and wait for someone to respond.


You can find a worksheet for calculating your RMD at the following link on the IRS web site.


Required Minimum Distribution Worksheets

 

macuser_22
Level 15

RMD Determination

Duplicate question, answered here:

https://ttlc.intuit.com/community/taxes/discussion/re-rmd-determination/01/982080#M354593

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
d-werner243
New Member

RMD Determination

I want to know how to figure my RMD for my 401K account.

SusanY1
Employee Tax Expert

RMD Determination

Your Required Minimum Distribution (RMD) amount is calculated by dividing your tax-deferred retirement account balance as of December 31 of last year by your life expectancy factor. Click on the following link for an easy to use worksheet to calculate your RMD: RMD Worksheet.

 

 

Note: If you are married and your spouse is more than ten (10) years younger than you, your RMD is calculated differently.  In that case, use this worksheet: RMD Worksheet using the joint-life table.

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macuser_22
Level 15

RMD Determination


@d-werner243 wrote:

I want to know how to figure my RMD for my 401K account.


RMD amounts for a 401(k) should be calculated for you by the 401(k) plan administrator.    401(k) RMD's are totally separate from IRA RMD's.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
bobbecker44
New Member

RMD Determination

How do I determine how much my RMD is?

macuser_22
Level 15

RMD Determination


@bobbecker44 wrote:

How do I determine how much my RMD is?


RMD for what type of account?  

 

401(k)'s, pensions, etc are calculated by the plan administrator.

 

For Traditional IRA's You can ask the financial institution that has the IRA to calculate it for you.    Your total Traditional IRA RMD is the total value of all Traditional, SEP and SIMPLE IRA accounts that you might have as Dec, 31 of the previous year, divided by your live expediency as defined in IRS Pub 590B appendix B:

https://www.irs.gov/publications/p590b#en_US_2018_publink1000231217

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
rbryan01
New Member

RMD Determination

yes. i just want to know how to calculate the RMD on a single IRA

macuser_22
Level 15

RMD Determination


@rbryan01 wrote:

yes. i just want to know how to calculate the RMD on a single IRA


You can use the IRS publication posted above or ask the custodian of the IRA to do it for you.

 

It should also be on the 5498 form line 12b issued in May.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
VolvoGirl
Level 15

RMD Determination

Here is a worksheet to calculate the RMD

https://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

 

IRS Publication 590B on IRA Distributions

https://www.irs.gov/pub/irs-pdf/p590b.pdf

TAXMONEY99ME
New Member

RMD Determination

pLEASE TELL ME HOW TO FIGURE MY  RMD  FOR  2020  -

TAXMONEY99ME
New Member

RMD Determination

HOW TO FIGURE MY RMD FOR MY  IRA  ACCOUNT

TAXMONEY99ME
New Member

RMD Determination

TRYING TO FIGURE OUT HOW MUCH MY RMD WILL BE FOR  2020 IN MY  IRA ACCOUNT

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