Hi Carol. Thanks for your question about minimum required distributions (MRDs). Your MRD is based on the value of your retirement accounts, and not on your income, so unless you have a Roth account or you have made after-tax contributions, you do need to pay taxes on your MRD. Generally, your MRD is subject to federal income tax and possibly state income taxes too. I suggest that you consult with your tax advisor about your situation.
You are correct about the deadline for taking your 2015 MRD. For the first MRD only, you can delay the withdrawal until April 1, 2016, but then you will need to take two MRDs in 2016 – one for 2015 and one for 2016. Your 2016 MRD deadline is December 31, 2016. There is another reason not to delay your first MRD until April 1 of the following year. The 2016 MRD would be calculated based on the year-end account balance from the previous year. This would include the 2015 amount in the account since you didn’t take it, which would make your 2016 MRD a higher amount.
As far as when the withdrawals can be made, you may take your MRD monthly, quarterly, or on whatever schedule you like, as long as the full amount is distributed by the deadline. If you would like to have your MRDs withdrawn automatically, you can enroll online at Fidelity.com/RDC or with a retirement representative by calling 800-544-4774. You can find more information about automatic withdrawals here: https://www.fidelity.com/cash-manag...
I hope this helps.