Vanguard has released my end of year division for my Inherited IRA. I usually take it now in early January. Does anybody do it differently....end of year?
In the book and in rear view.....precisely...thanks Steelyman.I take the RMD for my inherited IRA at the same time as you: as early as possible in the year. The dollar amount is known since it’s based on the December ending balance so that’s constant. It helps me to have that in the books and in the rear view.
Fidelity has placed the 2020 RMD orders in my account already and they’ll execute tonight. As always the total matches to the penny my calculations.
[ADDED] Fidelity will also arrange for tax withholding at my specified percentage, avoiding surprises at tax time (it’s a traditional, not Roth, IRA).
Same here for federal withholding, if needed. Usually I do this in the first week of December. By then, any income "surprises" have been accounted for. Last month, we distributed more than the RMD from my inherited IRA, so I needed to withhold a bit of federal taxes.We are waiting to the end of the year. We will use the RMD to fund fed & state tax withholding, so no need to lend it to the IRS.
We are waiting to the end of the year. We will use the RMD to fund fed & state tax withholding, so no need to lend it to the IRS.