Change in required distribution IRA? (payment, rate, balance, withdraw) - Personal Finance -debt, loans, credit cards, banks, insurance... - City-Data Forum

greatblueheron · 10-09-2018, 07:55 AM

If there was a required IRA distribution set years ago when my dad turned 71 1/2, now owned by me,
would the AMOUNT SET change for any reason?? It's my understanding once set it remains the same each year. mine has decreased almost half of what it was set at...not sure why...?

Help...?

mathjak107 · 10-09-2018, 07:56 AM

if you inherit it , then it is based on your future life expectancy going forward .

greatblueheron · 10-09-2018, 07:58 AM

Quote:

Originally Posted by mathjak107

if you inherit it , then it is based on your future life expectancy going forward .

But
I was getting certain amt. for years as distribution, but it changed to half that....do they just change it without notification?

mathjak107 · 10-09-2018, 08:02 AM

it is based on each years balance

greatblueheron · 10-09-2018, 08:04 AM

Quote:

Originally Posted by mathjak107

it is based on each years balance

Thank you, mj

mathjak107 · 10-09-2018, 08:15 AM

that is why it is never used to set a withdrawal rate in retirement . it is to unstable .

rjm1cc · 10-09-2018, 10:02 AM

Try https://www.irs.gov/publications/p590b for more info. Depending when you inherited the IRA you probably have to withdraw the same percent each year. You would take the value of the IRA on 12/31 and multiply that times the percent. But inherited IRAs have a number of options over the years so read the publication.
You payment should be changing each year as the value of your investments change.