Introduction
This IRA distribution calculator shows how much money you can or must take out of your IRA, and how much you get to keep after taxes. Put in your balance, your age, and a few tax details. The calculator works out the numbers for you.
It works for Traditional, Roth, SEP, SIMPLE, and inherited IRAs. It uses the IRS life expectancy tables to find your required minimum distribution (RMD), the amount you must withdraw each year once you reach RMD age. It also aggregates several IRA accounts into one total.
You can also see:
- Federal and state tax on your withdrawal, plus your tax bracket
- The 10% early withdrawal penalty before age 59½, and which IRS exceptions skip it
- 72(t) SEPP payments using all three IRS methods
- A year-by-year schedule of your balance, withdrawals, and taxes
- A Roth conversion comparison with a break-even year
Results are estimates to help you plan. Tax rules change, so check with a tax advisor before you take money out.
How to use our IRA Distribution Calculator
Enter your IRA balance, age, tax details, and withdrawal plan. The calculator shows your required minimum distribution (RMD), the tax you may owe, any early withdrawal penalty, 72(t) SEPP payments, a year-by-year schedule, and a Roth conversion comparison.
IRA Account Type: Pick Traditional, Roth, SEP, SIMPLE, or Inherited. This sets which IRS rules apply.
Current Account Balance: Type what your IRA is worth today.
Current Age: Enter your age in years. This decides if RMDs or penalties apply.
Spouse's Age: Enter your spouse's age if you have one. Check the box if your spouse is your only beneficiary and is more than 10 years younger, so the Joint Life table is used.
Expected Annual Rate of Return: Type or slide the yearly growth rate you expect on the account.
Annual Contribution: Enter how much you add each year before you start taking money out.
Planned Distribution Start Age: Enter the age you plan to begin withdrawals. The default is 73.
Total Roth Contributions (basis): For a Roth IRA, enter the money you put in. This part comes out tax-free first.
Relationship to Original Owner: For an inherited IRA, choose how you were related to the person who died.
Original Owner's Age at Death: Enter the owner's age when they passed away.
Year of Death: Enter the year the owner died. This picks the 10-year rule, 5-year rule, or stretch rule.
Beneficiary's Current Age: Enter your age today as the person who inherited the account.
Balance as of Dec 31 (prior year): Enter the account value on December 31 last year. The IRS uses this number for your RMD.
Life Expectancy Factor Override: Leave blank to use the IRS table. Type a number only if you want to use your own factor.
Additional IRA Accounts: Click "Add another IRA account" and enter each account name and prior-year balance so all IRAs are added together.
Filing Status: Choose Single, Married Filing Jointly, or another status from the list.
Other Annual Taxable Income: Enter your other income, like wages, pension, or interest.
Federal Withholding Preference: Enter the percent you want held back for federal tax. The IRS default is 10%.
State of Residence: Pick your state. The state tax rate fills in for you.
State Income Tax Rate: Change the rate if your bracket is different.
State Withholding Preference: Enter the percent you want held back for state tax.
Planned Withdrawal Amount: Enter how much you want to take out this year.
Reason for Early Withdrawal: Choose an IRS exception, such as first home or medical costs, if one fits. Pick "No exception" if none apply.
Account Balance at SEPP Start: Enter the balance you would use to start a 72(t) plan.
Age at SEPP Start: Enter your age when the 72(t) payments would begin.
IRS Interest Rate (120% of AFR): Enter the rate used for 72(t) math. It cannot be more than the greater of 5% or 120% of the federal mid-term rate.4
Projection Length: Type or slide how many years you want the schedule to cover.
Annual Inflation Rate: Enter the yearly inflation rate to see money in today's dollars.
Distribution Strategy: Choose RMD only, a fixed dollar amount, a fixed percent, deplete by a target age, or 72(t) SEPP.
Fixed Annual Distribution: If you chose the fixed dollar plan, enter the amount to take each year.
Fixed Percentage of Balance: If you chose the percent plan, enter the percent to take each year.
Deplete Account by Age: If you chose that plan, enter the age when the account should reach zero.
Conversion Amount: Enter how much you would move from a Traditional IRA to a Roth IRA.
Current Marginal Tax Rate: Enter your top tax rate today.
Expected Tax Rate in Retirement: Enter the tax rate you expect later.
Years Until Retirement / Withdrawal: Enter how many years until you would use the money.
Calculate and Reset: Click Calculate to see your results, charts, and step-by-step math. Click Reset to start over.
IRA Distributions: What You Need to Know
An IRA distribution is money you take out of an Individual Retirement Account. Most IRA money grew tax-free for years, so the IRS wants its share when the money comes out. How much tax you pay, and whether you owe an extra penalty, depends on your age, your account type, and how much you take.
Required Minimum Distributions (RMDs)
With a Traditional, SEP, or SIMPLE IRA, you can't leave the money in forever. Once you hit a certain age, you must take out a set amount each year. This is called a Required Minimum Distribution, or RMD.
Under the SECURE 2.0 Act, your RMD start age depends on your birth year:
- Born 1950 or earlier: RMDs started at age 72.
- Born 1951 to 1959: RMDs start at age 73.
- Born 1960 or later: RMDs start at age 75.
The law sets the age at 73 for people who reach 72 after 2022, and at 75 for people who reach 74 after 2032.6
The math is simple. Take your account balance from December 31 of last year and divide it by a life expectancy factor from an IRS table. Most people use the Uniform Lifetime Table. If your spouse is your only beneficiary and is more than 10 years younger, you use the Joint and Last Survivor Table instead, which gives a bigger factor and a smaller RMD.2
Miss an RMD and the penalty is steep: a 25% excise tax on the amount you should have taken.1 Correct it within two years and it drops to 10%.1
Roth IRAs are different. The owner never has to take lifetime RMDs, and qualified withdrawals are federally tax-free.1
How IRA Withdrawals Are Taxed
Money from a Traditional, SEP, or SIMPLE IRA counts as ordinary income. It stacks on top of your other income, so a big withdrawal can push you into a higher federal tax bracket. Your state may tax it too, though some states have no income tax, and others give retirees a break.
Bigger income can also raise your Medicare premiums. This is called IRMAA, and it kicks in about two years after the year with the higher income. Spreading withdrawals over more years can help you stay under the line.
Tax is withheld at a flat 10% rate on a nonperiodic IRA distribution unless you choose a different rate.5 You can change that number, but withholding is only a prepayment. Your real tax bill is settled when you file.
The 10% Early Withdrawal Penalty
Take money out before age 59½ and you usually owe a 10% extra tax on top of regular income tax.3 Some exceptions waive it, including:
- Total and permanent disability
- Death of the account owner
- Big unreimbursed medical bills
- Health insurance premiums while unemployed
- First-time home purchase (up to $10,000 lifetime)2
- Qualified higher education costs
- Birth or adoption of a child (up to $5,000)2
- Terminal illness, domestic abuse, or a small emergency expense
72(t) SEPP Payments
A 72(t) plan, also called Substantially Equal Periodic Payments, lets you tap an IRA before 59½ without the 10% penalty. You must keep the payments going until the later of five years after the first payment and age 59½.4 The IRS allows three ways to figure the payment: the RMD method, the fixed amortization method, and the fixed annuitization method.4 Amortization and annuitization usually pay the most. Break the schedule early and the penalties come back for every past year.
Inherited IRAs
Rules for inherited IRAs changed with the SECURE Act. Most non-spouse beneficiaries who inherit after 2019 must empty the account within 10 years.2 If the original owner had already started RMDs, the beneficiary also has to take yearly withdrawals during those 10 years.
Some people get better treatment. Spouses, minor children, disabled or chronically ill people, and anyone within 10 years of the owner's age can stretch payments over their own life expectancy. Trusts, estates, and charities follow either a 5-year rule or the original owner's remaining life expectancy. Inherited IRA withdrawals never carry the 10% early penalty, no matter your age.3
Roth Conversions
A Roth conversion moves money from a Traditional IRA to a Roth IRA. You pay tax on the amount now, then the money grows tax-free and has no lifetime RMDs. Converting makes the most sense when your tax rate today is lower than the rate you expect later, and when you can pay the tax bill from savings outside the IRA.
Smart Planning Tips
- Use last year's December 31 balance for RMD math, not today's balance.
- You can add up RMDs from all your IRAs and take the total from just one account1.
- Your first RMD can be delayed to April 1 of the next year, but then you take two RMDs in one year1.
- Qualified Charitable Distributions after age 70½ can satisfy your RMD and skip the tax2.
- Withdrawing in low-income years can keep you in a lower bracket and below IRMAA limits.
- Coordinate IRA withdrawals with your Social Security start date and any pension income.
Note: These results are estimates for planning only. Tax rules change, and your situation may differ. Talk with a tax pro or financial advisor before you act.