Do you have to make a required withdrawal from all IRAs you own at age 70.5?

by David M. Lastowski, CPA | Nov 21, 2017

When making a required withdrawal from an IRA at age 70.5, can it come from one IRA or do I have to withdraw from all IRAs that I have?

When you have multiple IRAs, you do not need to take distributions from each one. All you need to remember is that you must take the total required minimum distributions (RMD) from the accounts. For example, if your RMD from IRA No. 1 is $1,500, and the RMD from IRA No. 2 is $2,000, you need to take distributions totaling $3,500 from your IRAs. You can take it all from one account or split it between the accounts any way you want.

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Answered by: David M. Lastowski, CPA, is a sole practitioner in Erie, Pa.

The responses are based on the limited information provided by the questioner and apply the laws and regulations at the time of posting. Other options could arise as rules and regulations may change over time, including but not limited to the passage of the Tax Cuts and Jobs Act of 2017. They are intended to provide general information, not specific accounting or tax advice; they are not intended or written to be used and cannot be used for the purpose of avoiding or evading taxes or penalties under the IRS code or regulations. Views expressed do not imply an opinion of the PICPA, its officers, directors, employees, or members.
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