Wife 70 !/2 this yr has IRA and has dist. of $32,000 in past years. Does she need to withdraw portion at 70 !/2

Asked over 1 year ago - Olathe, KS

This is the only IRA she has and it has been transferred to different companies over the years-she didnt withdraw and money last year but has wthdrawn a total of $32000 over the last 8 years. We know the amount she must withdraw but dont know whether it is necessary since has withdrawn over 32K in the past.

Attorney answers (1)

  1. Dagmar Pollex

    Contributor Level 12


    Lawyer agrees


    Answered . Yes - she will need to withdraw a minimum required distribution amount every year (even though she withdrew money in the past) . This year's amount must be distributed by April of next year.

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