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Submitted By: Diana
Answered: June 1, 2015 3:09 pm
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.
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Tax Glossary
Archer Medical Savings Account (MSA)
A type of medical plan combining high deductible medical insurance protection with an IRA-type savings account fund to pay unreimbursed medical expenses.
