Question:   How do I calculate the minimum amount that must be withdrawn from my IRA after age 70 1/2?

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

Generally,

• The minimum distribution for each year is computed by dividing the IRA account  balance at the close of business December 31 of the preceding year by the life expectancy.
• The life expectancy is determined by using one of three tables found in Publication 590.
  • Table I is used by beneficiaries when they are the sole owner.
  • Table II is for use by owners whose spouse is more than 10 years younger  and the spouse is the sole beneficiary.
  • Table III is generally for use by unmarried owners, owners whose spouse is a beneficiary and not more than 10 years younger and owners whose spouses are not sole beneficiaries.