The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: RMD from an IRA Date:  4/2/2012  11:13 PM
Author:  RBMunkin Number:  115807 of 127745

" Unless she has multiple IRAs and attempting not to take an RMD from all of them, the administrator will calculate the RMD and distribute it on the requested schedule."

I'll have to check on that. It seems like she just takes money randomly. Maybe since she always goes over the RMD fairly early in the year, they don't do an automatic schedule. Thanks for the heads up though. I'll check it out.

In Turbo Tax, when you enter the amount of distribution, it asks how much of it is RMD. But it doesn't change the bottom line whether it's all RMD or very little is RMD and most is over and above. So I was just wondering what the tax reason for indicating that is. Is it just to make sure AT LEAST the amount of RMD was taken? Or is there sometimes tax consequences for taking too much over the RMD?

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us