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You will get Form 1099-R from the IRA administrator. You will report this as income on line 15 of Form 1040. If any taxes are withheld, report on line 64 of Form 1040. You may also need to file Form 5329 to report tax on early withdrawals, excess contributions, and insufficient distributions.
Retirement Plan and IRA Required Minimum Distributions FAQs. Your required minimum distribution is the minimum amount you must withdraw from your account each year. You generally have to start taking withdrawals from your IRA, SEP IRA, SIMPLE IRA, or retirement plan account when you reach age 70Â½. Roth IRAs do not require withdrawals until after the death of the owner. 1  You can withdraw more than the minimum required amount.