RMD

Q: Early this year, I took a required minimum distribution from my IRA. When the pandemic hit and the government suspended RMDs for 2020, I was going to put the money back into my IRA so I wouldn’t have to pay taxes on it. I wanted to get it back into my IRA before the end of the year, but

Q: Last year I purchased a deferred annuity in my IRA. My insurance company recently sent me a statement reminding me that I need to take a required minimum distribution before year-end. They included the amount of my RMD and I was shocked to discover that it is significantly higher after buying the annuity than it was before the annuity. I called my broker and he assured me the higher RMD was correct. I’ve been paying RMDs for several years, but I have never seen anything like this. What’s going on?