On Fri, 14 Feb 2014 11:45:11 -0800, Bill McKee wrote:

On 2/14/14, 6:52 AM, BAR wrote:
In article , __ says...

Poco Loco wrote:
On Thu, 13 Feb 2014 13:37:23 -0500, HanK wrote:

On 2/13/2014 8:01 AM, Poco Loco wrote:
...calculation is very simple. Get the total value of your IRA's (not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns, or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy to do your taxes for you.

tell me all about it. We'll be needing to do that soon.
That's it. Nothing to it.

Calculating the required minimum distribution
The required minimum distribution for any year is the account balance as of the end of the
immediately preceding calendar year divided by a distribution period from the IRS?s Uniform Lifetime
Table. A separate table is used if the sole beneficiary is the owner?s spouse who is ten or more
years younger than the owner.

Here's the worksheet.

http://www.irs.gov/pub/irs-tege/uniform_rmd_wksht.pdf

In my case, add 'em all up, divide by 27.4. Tell the bank to transfer the amount from your IRA to
wherever - in my case a money market savings account for the time being.

Forget the money market. This is where I keep my extra cash:

http://www.gecapitalinvestdirect.com...rest-plus.html

1.1% is the best I have found right now.

I hope you don't have all of your money invested in corporate bonds.

You are supposed to take from each, not just one. Easier for IRS to
keep track. What I was told.

You were told improperly. The IRS has these big computers that do all the work. It's OK to have
several accounts and just take from one.

"Can an account owner just take a RMD from one account instead of separately from each account?

An IRA owner must calculate the RMD separately for each IRA that he or she owns, but can withdraw
the total amount from one or more of the IRAs. Similarly, a 403(b) contract owner must calculate the
RMD separately for each 403(b) contract that he or she owns, but can take the total amount from one
or more of the 403(b) contracts.

However, RMDs required from other types of retirement plans, such as 401(k) and 457(b) plans have to
be taken separately from each of those plan accounts."

http://www.irs.gov/Retirement-Plans/...istributions#5