Randall Posted October 28, 2016 Report Share Posted October 28, 2016 I understand that a person taking RMD can withdraw the total required amounts of both accounts from only one of the accounts. Is there anything special required to do this? Can a person simply calculate the amount for each account and take the total amount as a distribution from one account? Is there anything needed to provide to the account where no distribution is made? I assume IRS receives 2 Forms 5498 and one Form 1099-R and as long as the total distribution meets the minimum of both accounts, they are satisfied. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted October 28, 2016 Report Share Posted October 28, 2016 Nothing special. Just hang on to your calcs. Most of the people who do this do it because one IRA has investments with better returns that they don't want to sell. 4 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted October 28, 2016 Report Share Posted October 28, 2016 Send a note, signed by the taxpayer, to the other IRA account stating that all RMD withdrawals have been met from another IRA account. This will head off a letter from them. Quote Link to comment Share on other sites More sharing options...
Randall Posted October 28, 2016 Author Report Share Posted October 28, 2016 Ok, thanks. Quote Link to comment Share on other sites More sharing options...
taxxcpa Posted October 29, 2016 Report Share Posted October 29, 2016 I've never explained it to the IRS and always have taken it all from ONE account 2 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted October 30, 2016 Report Share Posted October 30, 2016 14 hours ago, taxxcpa said: I've never explained it to the IRS and always have taken it all from ONE account I was not referring to sending anything to the IRS. On 10/28/2016 at 3:23 PM, Jack from Ohio said: Send a note, signed by the taxpayer, to the other IRA account stating that all RMD withdrawals have been met from another IRA account. This will head off a letter from them. Most IRA accounts will want to know that RMD's are being taken. Quote Link to comment Share on other sites More sharing options...
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