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Old Yesterday, 10:33 AM
 
104 posts, read 138,465 times
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I take my RMD monthly.

When the RMD is direct deposited into the bank account, I make a small withdrawal and go to the casino!!!!!
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Old Yesterday, 10:57 AM
 
Location: Florida
4,400 posts, read 3,735,645 times
Reputation: 4157
If you do not need the money have stock in the IRA transferred to your taxable brokerage account. That avoids market timing.

If you are going to spend the money I would not have any investments reinvesting dividends or interest. Take this money, say every quarter. Any additional funds you need I would take, as you suggested, when the market is up so taking now is ok.

But you could place a stop loss order on the securities you will sell and see if you can get a little more gain for the year. When they sell move the cash to the brokerage account.
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Old Yesterday, 11:13 AM
 
Location: Texas
1,976 posts, read 1,383,754 times
Reputation: 6775
80% is distributed monthly, with the remaining 20% in December. RMD is paid from dividends and interest from 3 IRA’s, no need to sell stocks.
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Old Yesterday, 11:13 AM
 
6,910 posts, read 3,909,635 times
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I take it in Dec from both accounts. I pay the property tax in full and save the remainder.
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Old Yesterday, 03:11 PM
 
Location: OH>IL>CO>CT
5,273 posts, read 8,464,907 times
Reputation: 7262
Quote:
Originally Posted by jghorton View Post
I take mine annually. Since your husband is not required to pay taxes on RMD's until the year in which he turns 70-1/2, he can take his initial RMD anytime in 2019. He might double-up on RMD's in a single year, is if he didn't pay his 2019 taxes until April of 2020 ... and then paid his 2020 taxes earlier than April of 2021.
Be aware that the April 1 date for RMDs is only good for your very first RMD. And has the negative side effect of you still needing to take your 2nd RMD by Dec 31 of that same year. Resulting in being taxed on both RMDs in the same year. All RMDs after the first must be taken by Dec 31.

See https://www.irs.gov/retirement-plans...istributions#3
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Old Yesterday, 03:35 PM
 
30,239 posts, read 47,482,697 times
Reputation: 16153
Quote:
Originally Posted by reed303 View Post
Be aware that the April 1 date for RMDs is only good for your very first RMD. And has the negative side effect of you still needing to take your 2nd RMD by Dec 31 of that same year. Resulting in being taxed on both RMDs in the same year. All RMDs after the first must be taken by Dec 31.

See https://www.irs.gov/retirement-plans...istributions#3
Did you not read my first post
We are aware of the delay/take 2 rule
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Old Yesterday, 05:30 PM
 
Location: California
4,560 posts, read 5,491,237 times
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I take mine once a year, self directed, to avoid monthly administrative charges which are generally well hidden.
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Old Yesterday, 05:38 PM
 
2,057 posts, read 1,961,294 times
Reputation: 3482
Quote:
Originally Posted by rjm1cc View Post
If you do not need the money have stock in the IRA transferred to your taxable brokerage account. That avoids market timing.

If you are going to spend the money I would not have any investments reinvesting dividends or interest. Take this money, say every quarter. Any additional funds you need I would take, as you suggested, when the market is up so taking now is ok.

But you could place a stop loss order on the securities you will sell and see if you can get a little more gain for the year. When they sell move the cash to the brokerage account.
I never heard of this. Wouldn't you need to sell the stock in order to have cash to distribute that is then taxed as income?
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Old Yesterday, 07:48 PM
 
Location: california
458 posts, read 1,017,187 times
Reputation: 651
Quote:
Originally Posted by Heidi60 View Post
I take mine once a year, self directed, to avoid monthly administrative charges which are generally well hidden.

I don't do it monthly, but if I did, what kind of charges by whom?
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Old Yesterday, 08:22 PM
JRR
 
Location: Middle Tennessee
3,703 posts, read 2,242,883 times
Reputation: 5274
Quote:
Originally Posted by fumbling View Post
I never heard of this. Wouldn't you need to sell the stock in order to have cash to distribute that is then taxed as income?
I have sometimes transferred stock from my IRA to our brokerage account as a distribution. I just set up the transfer and the shares are moved. The amount considered taxable is the value of the shares at the time they are moved. Then I just use that figure when I am doing my quarterly tax deposit. It also resets the purchase price of the stock in the taxable account to the price when it was moved, for when you sell it.
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