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If I am about to turn 70 and I have a Traditional IRA and a…

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Hi Pearl! If I...

Hi Pearl! If I am about to turn 70 and I have a Traditional IRA and a Roth IRA, can I take my RMD's from my Roth as opposed to my Traditional? I know that the Roth doesn't have required RMD's but I was hoping to avoid some taxes by using the Roth for my required RMD's instead of the Traditional.

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Submitted: 4 months ago.Category: Tax
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9/25/2017
Tax Professional: Tax.appeal.168, Tax Accountant replied 4 months ago
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Tax.appeal.168, Tax Accountant
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Hello. Thank you for choosing this Q&A service for assistance. My name is Angela. I will be assisting you.

Q: can I take my RMD's from my Roth as opposed to my Traditional?

A: In brief, the answer is no, you will need to take the RMDs from the Traditional IRA. SEE BELOW:

Your required minimum distribution is the minimum amount you must withdraw from your account each year. You generally have to start taking withdrawals from your IRA, SEP IRA, SIMPLE IRA, or retirement plan account when you reach age 70½. Roth IRAs do not require withdrawals until after the death of the owner.

REFERENCE SOURCE:

https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-required-minimum-distributions

The option to defer taking your RMDs past age 70 ½ until retirement does not apply to your Traditional IRAs. Therefore, if you prefer not to take RMDs until you retire, you can do so by rolling over the amount to an employer sponsored retirement plan that allows such a deferral. Refer to reference source link for more information relating to this matter.

REFERENCE SOURCE:

http://www.retirementdictionary.com/articles/864/how-postpone-rmds-traditional-iras-rollovers

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