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Submitted By: Cathy
Answered: July 23, 2013 8:30 am
Answered: July 23, 2013 8:30 am
All of my IRA is in stocks. How do I satisfy my RMD?
You can take distributions from your IRA to satisfy required minimum distributions (RMDs) in cash or in kind, meaning in stock. The option you use depends on what’s in your account and what you want to do with it. You don’t have to sell stock to meet your tax obligation, but be sure that if you’re taking stock, you use the market value of it to figure your RMD.
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Tax Glossary
Private letter ruling
A written determination issued to a taxpayer by the IRS that interprets and applies the tax laws to the taxpayer’s specific set of facts. A letter ruling advises the taxpayer regarding the tax treatment that can be expected from the IRS in the circumstances specified by the ruling. It may not be used or cited as precedent by another taxpayer.
