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IRS.gov Website

Frequently Asked Tax Questions

Individual Retirement Arrangements (IRAs) - Distributions, Early Withdrawals, 10% Additional Tax

  1. How do I calculate the minimum amount that must be withdrawn from my IRA after age 70 1/2?

Rev. date: 4/6/2011

How do I calculate the minimum amount that must be withdrawn from my IRA after age 70 1/2?

Chapter 1 of Publication 590, Individual Retirement Arrangements (IRAs), gives a complete explanation of how to calculate this amount.

Generally,
New Update –
Waiver of required minimum distributions for 2009. Required minimum distributions (RMDs) for 2009 are waived for defined contribution plans and IRAs, including SEP-IRAs and SIMPLE IRAs. See Distributions in chapters 2 , 3 and 4 of  Publication 560. Note that this waiver does not apply to any RMDs for 2008 that are required to be made on or before April 1, 2009 as a result of the individual attaining age 70.5 in 2008. 
Note that lawmakers waived the 2009 minimum distribution requirement and, as a result minimum distributions for tax year 2009 are not required.