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 We know the amount she must withdraw but dont know whether it is necessary since has withdrawn over 32K in the past.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

    1

    Lawyer agrees

    1

    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.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

25,453 answers this week

3,228 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

25,453 answers this week

3,228 attorneys answering