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RMDs in Multiple IRA Accounts

 

Under the current tax law, Required Minimum Distributions (RMD) must be taken by IRA Account holders beginning in the year that they turn 70 ½. The RMD for each year is usually calculated by your tax preparer or Investment Company. If you have multiple IRA accounts, there will be an RMD calculated for each account, but the IRS considers all IRAs as a single account, meaning that you are allowed to pay the full RMD amount out of only one account as opposed to paying from each IRA account separately.

You may reach Tom at 713-407-4304 or email at tom.stephens@cambridgesecure.com if you have any questions.

 

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