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Take note that calculating your RMD works a bit differently if your spouse is the only primary beneficiary to your account and is more than 10 years younger than you.
If your spouse is more than 10 years younger, you can name them as the sole beneficiary of your retirement account, which allows you to calculate your RMDs using your spouse’s longer life ...
How to calculate a required minimum distribution. ... the spouse is not more than 10 years younger or the spouse is not the sole beneficiary of the holder’s IRA.) ... Your required minimum ...
One of the biggest advantages to investing in a qualified retirement plan like a 401(k) or an individual retirement account (IRA) is tax-deferred growth on your savings. But you can’t keep ...
Note that the above RMD table also doesn’t apply to you if you have a spouse who is the sole beneficiary of your IRA and who is more than 10 years younger than you.
The post How the 10-Year RMD Rules Work for Inherited IRAs appeared first on SmartReads by SmartAsset. ... but early withdrawal penalties may apply in some situations if the surviving spouse takes ...
You can find the distribution period using the IRS's Uniform Lifetime Table, or the IRA Required Minimum Distribution Worksheet if your spouse is the sole beneficiary and is more than 10 years ...
6 required minimum distribution (RMD) rules ... RMD amounts change every year. ... For instance,if you have more than one 401(k), you must calculate and withdraw your RMD separately from each of them.
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