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Personal Finance

Choate: Navigating My First RMD

Calculating required minimum distributions on Traditional IRAs, Roths, QLACs, deferred variable annuities, and SEP-IRAs is even more complicated than you might expect.

In honor of turning age 70 1/2 this year, I am calculating my first required minimum distribution (RMD). This turns out to be more complicated than I expected.

I have nine IRAs. Which ones do and do not require me to take a distribution for this year? What is the prior year-end balance I'm supposed to divide my "applicable distribution period" into?