Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next
Author: RBMunkin Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 125003  
Subject: Re: RMD from an IRA Date: 4/2/2012 11:13 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
" 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?

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.