I have
a regular IRA
a SEP IRA
an inheritied IRA from my mother
Next year I have to take my first RMD(s).
Can I add the year end value of all 3 kinds to determine the total RMD amount and then take that money from my choice of IRA?

I know that my 401(k) stands alone for its RMD.
---
Fred J. Tydeman Tydeman Consulting
tydeman@tybor.com Testing, numerics, programming
+1 (702) 608-6093 Vice-chair of PL22.11 (ANSI "C")
Sample C99+FPCE tests: http://www.tybor.com
Savers sleep well, investors eat well, spenders work forever.

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On 8/25/22 7:15 AM, Fred J. Tydeman wrote:

I have
a regular IRA
a SEP IRA
an inheritied IRA from my mother
Next year I have to take my first RMD(s).
Can I add the year end value of all 3 kinds to determine the total RMD amount and then take that money from my choice of IRA?

I know that my 401(k) stands alone for its RMD.
---
Fred J. Tydeman Tydeman Consulting
tydeman@tybor.com Testing, numerics, programming
+1 (702) 608-6093 Vice-chair of PL22.11 (ANSI "C")
Sample C99+FPCE tests: http://www.tybor.com
Savers sleep well, investors eat well, spenders work forever.

No you can not add the year-end balances of all 3. Inherited IRAs stand
by themselves. You must compute the RMD for the inherited IRA
separately and you must take the distribution from the inherited IRA.
You can aggregate SEP and the traditional IRA to obtain the RMD. You can
take the RMD from either one or both of them.

--
Alan

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According to Fred J. Tydeman <tydeman@tybor.com>:

I have
a regular IRA
a SEP IRA
an inheritied IRA from my mother
Next year I have to take my first RMD(s).

For inherited IRAs, in most cases you have to start taking RMDs
shortly after you inherit, regardless of how old you are, and you may
have as little as 5 years to withdraw everything.

The specific rules deoend whether she died before or after 1 Jan 2020.
Either way I'd suggest checking the rules and how far behind you might
be.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds
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Regards,
John Levine, johnl@taugh.com, Primary Perpetrator of "The Internet for Dummies",
Please consider the environment before reading this e-mail. https://jl.ly

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<< The foregoing was not intended or written to be used, >>
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Note that inherited IRAs use a different RMD table than your own IRAs, and that the distrubution rules for inherited IRAs depend on the year of death and possibly also whether the decedent was taking RMDs prior to death. Also, if you have an inherited
Roth IRA, it has RMDs, unlike a self-owned Roth IRA.

You sound like you're already at least 70ish, so the next hack won't work for you, but I told my brother to increase his and his wife's 401(k) contributions and backfill the money by taking greater-than-required distributions from my Dad's traditional
IRA that he inherited. While my dad died in 2018 and therefore he's still eligible for "stretch" IRA's, it will give him an even greater stretch. (It didn't apply to me because I got the house and therefore much less of the IRA's.) Part of the idea is
to give him greater flexibility when his son applies to college. (He was 48 when his son was born.)

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<< The foregoing was not intended or written to be used, >>
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