If I'm over 70 1/2 and required to take my RMD, if I have 2 IRA's do I have to take from both IRA's or can I take the sum of the 2 RMD's from one of them? I would guess that I have to take from both.
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You can
take from the sum of the two.
Regards = Ricardo -
Required Minimum Distribution
See IRS Publication 590 (2013), page 40:
More than one IRA. If you have more than one traditional IRA, you must determine a separate required minimum distribution for each IRA. However, you can total these minimum amounts and take the total from any one or more of the IRAs.
BMKBurton M. Koss
koss@usakoss.net
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The map is not the territory...
and the instruction book is not the process.Comment
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Since the interest market has gone south, we always pull from the least one and leave the better paying ones alone.Comment
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You can take it all from one IRA or take it any way you choose from each as long as the total withdrawal is for the correct dollar amount.
Also, you can transfer stock from your IRA into a non-IRA account instead of transferring money. I've done it that way and would certainly do that in a bear market rather than to sell at the bottom to raise cash to withdraw. Of course, you might not have that option if you needed your RMD to meet living expenses.Comment
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