By Ian Berger, JD
IRA Analyst

Question:

I am over 71 and have 2 IRAs, one in my name, the other is inherited.

Can I take one RMD from the inherited IRA to satisfy both?

Or must I treat them separately and do 2 separate RMDs?

Thank you!

Tyler

Answer:

Hi Tyler,

You must treat the IRAs separately and take two separate RMDs.

If you own more than one IRA (not inherited), you can aggregate them and take the RMD from any one (or more) of them. The same is true for inherited IRAs that came from the same original IRA owner and are of the same type (e.g., Traditional vs. Roth). But you cannot aggregate IRAs that you own and IRAs that you inherit.

Question:

Hello,

I am hoping that you can help me out with one question or otherwise direct me to another format to solicit the correct answer.

Mr. Smith turns 81 on December 1, 2019. To calculate his current RMD using his 12-31-18 balances, which age factor should be used: 80 or 81?

Thank you,

Mark

Answer:

Hi Mark,

The RMD calculations can be tricky.

To calculate an RMD for a particular year, you always use the factor corresponding to the individual’s age as of December 31 of that year. So, in your example, you would use the age 81 factor for Mr. Smith’s 2019 RMD (which is 17.9 from the Uniform Lifetime Table).

https://www.irahelp.com/slottreport/aggregating-iras-and-rmd-calculations-today%E2%80%99s-slott-report-mailbag