A required minimum distribution (RMD) is an IRS-mandated dollar amount that is required to be taken out of your retirement accounts once you reach a certain age. An RMD is calculated based on several factors, including your year-end account balance(s), age, and life expectancy.
IF YOU ARE 100% SURE YOU ARE NOT REQUIRED TO TAKE AN RMD- in TurboTax you can indicate "The entire distribution was an RMD". This information is not reported to the IRS, TurboTax uses it to determine if you need to pay the penalty.
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