If you have several IRAs, you’ll need to calculate the RMD for each account. However, you can take your total RMD from only one IRA or a combination of IRAs. If you own multiple 401(k)s, you must calculate and take the RMD for each separately. Q: How Is My RMD Calculated? A:...
Basically, if an RMD is missed, there’s a 25% excise tax on the missed amount. “If you add that to the top 37% ordinary income tax rate, you get a combined tax of 62%. Most people won’t be in the 37...