ExFlyBoy5
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I was taking a look at the latest statement on an inherited IRA (held though TD Ameritrade) that I hold and noticed that the calculated RMD for this year is close to 25% of the total amount of the account value (as of 12/31/18). I am not sure where they got this number as I elected to use the life table for me, not the 5 year distribution. Obviously, I do *not* want to take out the amount they show as it would lead to a very obnoxious tax bill.
So, how does the 50% penalty work? Would TDA levy this and then I would have to take it up with the IRS or is there number just a "wag"?
Thanks for the assistance!
So, how does the 50% penalty work? Would TDA levy this and then I would have to take it up with the IRS or is there number just a "wag"?
Thanks for the assistance!