Mandatory withdrawal? ? ?

[Ray Jenkins]

I'm unclear about some aspects of mandatory withdrawal from
traditional IRA accounts.

-- How does the IRS determine compliance? Do they look at my
1040 filing, or do they look at the IRA account itself?

-- Where can I find a calculator to determine the correct
amount to withdraw?

 

[tm]

I'm unclear about some aspects of mandatory withdrawal from
traditional IRA accounts.

-- How does the IRS determine compliance? Do they look at my
1040 filing, or do they look at the IRA account itself?

-- Where can I find a calculator to determine the correct
amount to withdraw?

Here is a handy website for required minimum distributions:
http://www.finance.cch.com/sohoApplets/RetireDistrib.html

 

[Herb Smith]

I'm unclear about some aspects of mandatory withdrawal from
traditional IRA accounts.

-- How does the IRS determine compliance? Do they look at my
1040 filing, or do they look at the IRA account itself?

They don't share all their secrets with us, but I suppose
they look at your age, the 1099-R you should have received
from your custodian, and the form 5498 form filed by that
custodian (contains IRA balance as of previous Dec 31)

-- Where can I find a calculator to determine the correct
amount to withdraw?

You can get information in IRS Pub 590, along with the life
expectancy tables you need to calculate the MRD. It's not
rocket surgery.

 

[Don Priebe]

You can get information in IRS Pub 590, along with the life

expectancy tables you need to calculate the MRD. It's not
rocket surgery.

MIXED METAPHOR ALERT!

Or brain science.