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April 14, 2024
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If I rolled over my RMD , how do I report that I did not receive the funds for 2023?

  • April 14, 2024
  • 2 replies
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Best answer by VolvoGirl

The RMD is always taxable.  You just deposit it to your bank account.  Then you can use the money for anything you want like even to make a new contribution to a IRA account if you qualify to make a contribution.  But you can't do a direct Rollover over of the RMD.  You have to pay the tax on it first.  

2 replies

RachelW33
April 14, 2024

You cannot rollover a Required Minimum Distribution (RMD).  See IRS Rollovers of Retirement Plan and IRA Distributions for more information.

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VolvoGirl
VolvoGirlAnswer
Employee
April 14, 2024

The RMD is always taxable.  You just deposit it to your bank account.  Then you can use the money for anything you want like even to make a new contribution to a IRA account if you qualify to make a contribution.  But you can't do a direct Rollover over of the RMD.  You have to pay the tax on it first.