RMDs: When Do I Take Them and How Do I Calculate Them?
If you are close to reaching the age of 70½ and have an IRA, SEP IRA or a SIMPLE IRA, or other pre-tax employer-sponsored retirement accounts, you need to start thinking about the required minimum distributions that you will have to start taking from each account. If you have a Roth IRA, it does not require a withdrawal until after the death of the owner.
Calculating the amount is easy, and the required minimum distribution worksheets needed to determine the amount are located on the IRS website, or by checking out the links below. And you can double-check yourself by using a simple RMD calculator like the one on Kiplinger.com.
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