Message Font: Serif | Sans-Serif
No. of 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?

Print the post  


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.
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.
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.