Where is the required minimum amount for my IRA?

Forum|Forum|1 year ago
March 10, 2025
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Adding IRA distribution: Software asks for required minimum amount. It’s not on the 1099-R. Where can I find it?

TurboTax Online

Best answer by DaveF1006

Yes, your assumptions are correct. According to this IRS publication, RMD calculations are calculated by dividing the prior December 31 balance of that IRA or retirement plan account by a life expectancy factor that the IRS publishes in Tables in Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs). So if the second RMD had no account balance on December 31, there's no RMD requirement.

You are correct about RMD rules concerning non-qualified annuities. Non-qualified annuities aren't subject to RMD rules during the owner's lifetime. These annuities are funded with after-tax dollars, so the IRS doesn't require mandatory withdrawals.

@apinard

SabrinaD2

The required minimum distribution (RMD) amount for your IRA is not listed on your 1099-R. Instead, you need to calculate it based on your account balance and your age. Here’s how you can find it:

Calculate Your RMD:

Use the IRS RMD worksheet to calculate your RMD.
Many financial institutions, like AARP, provide RMD calculators and guides. You can check out the AARP RMD Reference Guide.

apinardAuthor

I had 4 1099-Rs. For each one, TurboTax asked for the RMD. One financial institution supplies it each year for the following year. It took a lot of work but I finally figured it out for the others. I’d appreciate your confirmation that these are correct.
- For one traditional IRA, I googled and found a calculator. The calculation matched my distribution to the penny. Great!
- One is a “matured” account that has no balance, just a monthly payout until it expires in Jan 2026. I assume that means there is no RMD. Correct?

- One is a non-qualified annuity, so no RMD. Correct?

I did not have expert advice in answering these questions so I’d appreciate your confirmation that I got the last two right.