New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

The following includes answers to common questions about the Required Minimum Distribution (RMD) Worksheet.

Important! The Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted on March 27, 2020, temporarily waived RMDs for the tax year 2020. RMDs taken prior to the Act may be rolled over for any distribution that does not exceed the 60-day rollover period. RMDs that are outside the 60-day period will be treated as a taxable distribution on the 2020 tax return. Suspending any automatic RMDs not needed to meet living expenses may allow IRA accounts to recover from any losses sustained due to COVID-19.

How do I compute required minimum distributions for 2022 in UltraTax CS/1040?

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

Why won’t the Worksheet for Owners compute the required minimum distribution for a Roth IRA?

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

The deceased original owner of the account died on or after the required beginning date and my client is one of multiple beneficiaries, but not the oldest beneficiary. How can I calculate the correct required minimum distribution for my client?

How does the Required Minimum Distribution (RMD) Summary aggregate distributions from multiple qualified retirement plan accounts of the same type?

What if my client does not provide all of the information required to calculate the required minimum distribution?

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