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 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 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 »

How to Determine the Required Distribution Amount of an Inherited IRA?

The rules on required minimum distributions from an Individual Retirement Account (IRA) are somewhat complex and difficult to understand. It becomes even more confusing when you are not the owner o... Read More »