1040-US: Worksheet for Owners - computing required minimum distributions

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Question

When should I use the Worksheet for Owners to compute a required minimum distribution?

Answer

The Worksheet for Owners is used to compute the amount a taxpayer age 70½ or older is required to have distributed from his/her traditional IRA or qualified retirement plan account for the following tax year. If the spouse is more than ten years younger than the account holder, the Joint Life and Last Survivor Expectancy Table is used to determine the RMD. All other taxpayers use the Uniform Life Table. Both tables can be referred to in IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).

Note: This worksheet does not apply to qualified retirement plan accounts when the taxpayer continues working for an employer past age 70½ and is not a greater than 5% owner.

Related topic: Required Minimum Distribution (RMD) Worksheet FAQs (1040)

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