How to Pay Taxes on an IRA Required Distribution?

Answer The Internal Revenue Service requires people 70.5 and older to take a minimum distribution from their tax-deferred individual retirement accounts, such as traditional IRAs and SEP IRAs, each year. ... Read More »

Top Q&A For: How to Pay Taxes on an IRA Required Distribution

Required Distribution Age for an IRA?

IRAs are tax-advantaged retirement accounts. All IRAs are tax-sheltered, meaning that you do not pay any taxes on the earnings made from the money in the account. Tax-deferred IRAs allow you to tak... Read More »

What is the required minimum distribution for an IRA?

The required minimum distribution is the amount a person must take out of his IRA every year, beginning in the calendar year during which he reaches 70-1/2 years old. Determine the correct amount b... Read More »

What is the minimum required IRA distribution?

An IRA, short for Individual Retirement Account, is a tax-advantaged way to put money aside for your retirement. Money in this account grows tax free; some accounts give a tax deduction for contrib... Read More »

What is the required minimum distribution on IRA withdrawals?

Upon reaching 70.5 years old, Internal Revenue Service rules require a minimum distribution from a traditional IRA by April 1 of the following year and each year after. The amount depends on total ... Read More »