Submitted By: Diana
Answered: June 1, 2015 3:09 pm

My husband has four IRAs; I have one. We both turn 70-1/2 this year. Can we lump all of our IRAs together to figure required minimum distributions?

Your husband can total all of his IRAs and then take his annual distributions from any one or more of the accounts; you must figure your RMD separately and take it solely from your IRA.

advertisement
Tax Glossary

Foreign earned income exclusion

In 2007, up to $85,700 of foreign earned income is exempt from tax if a foreign residence or physical presence test is met.

More terms