To get a copy, visit the IRS web site at under the “Forms and Pubs” section. It can be accessed directly at pdf/p17. pdf. Or it can be ordered by calling 1-800-829-3676.

Do you pay taxes on required minimum distributions?

How are RMDs taxed? The account owner is taxed at his or her income tax rate on the amount of the withdrawn RMD. However, to the extent the RMD is a return of basis or is a qualified distribution from a Roth IRA, it is tax free.

What is the IRS Publication 17?

More In Forms and Instructions Publication 17 covers the general rules for filing a federal income tax return. It supplements the information contained in your tax form instruction booklet. It explains the tax law to make sure you pay only the tax you owe and no more.

When do you have to pay taxes on required minimum distributions?

But you can’t continue deferring these taxes forever. When you reach age 70½, you’ll be required to withdraw at least a certain amount (called your “required minimum distribution,” or RMD) from your accounts every year and pay income taxes on these withdrawals.

Do you have to pay taxes on qualified charitable distributions?

Yes. A qualified charitable distribution (QCD) is not subject to ordinary federal income taxes – the amount is simply excluded from your taxable income. In general, QCDs must be reduced by deductible IRA contributions made for the year you reach age 70½ or later.

When is an HSA distribution taxable to the owner?

If certain rules are followed, the distribution is not taxable. However, if any portion of a distribution is not used in accordance with HSA rules, that portion is taxable as income to the HSA owner. When an HSA distribution is taxable, it is also subject to a 20 percent penalty unless the HSA owner is over age 65, disabled or deceased.

What happens if a distribution is not used for qualified medical expenses?

If any portion of a distribution is not used for qualified medical expenses, that portion is taxable as income and subject to a 20 percent penalty.