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RMD Rules When an Entity Inherits a Traditional IRA If you have a traditional IRA, you can designate a beneficiary to be an entity instead of an individual. Examples include trusts, charities, and ...
Image source: Getty Images. 1. Roth 401(k)s are no longer subject to RMDs. Anyone who opted into their workplace's Roth 401(k) and used it as their only retirement account could've been in for a ...
Data source: IRS. Keep in mind you can delay your first required minimum distribution until April 1 of the following year. That said, your next distribution must come out by Dec. 31 of that year ...
Tax Talk addresses three questions from a reader regarding the required minimum distribution rules that apply to a regular IRA account.
The IRS has special rules regarding the RMD in the year of death that IRA and 401(k) beneficiaries need to be aware of. A financial advisor can help you through the ins and outs of planning for ...
Anyone with a 401(k), traditional IRA or similar tax-deferred retirement account eventually is going to face the requirement to start taking required minimum distributions (RMDs) from their accounts.
For example, say you have two IRAs, one with a $5,000 RMD and one with a $7,000 RMD. You could take $12,000 from one, $6,000 from each, or any combination you like as long as you withdraw at least ...
The RMD on his traditional IRA is $10,000 this year. If John fails to withdraw that amount by April 1, 2025, he may be liable for a 25% excise tax, which means $2,500 (25% of the RMD amount).