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Retirement tax questions
Yes, since California Retirement Income is reported on a 1099-R, it will ask about RMD distributions. The reason why it is asking about RMD distributions is that you are over the required age for taking distributions from your retirement plan.
This year, you were not required to take a Required Minimum Distribution. Turbo Tax will ask the question anyway and if some of that money you receive every year is a Required Minimum Distribution, you would indicate yes and then report what amount was the RMD.
For future reference, you can either look at your RMD statement to find out what the RMD is or contact the trustee of your RMD account to find out what your Required Minimum Distribution amount was for the year. This year, if you indicate that none of the distribution was a RMD, you won't get penalized because there was no RMD requirement. In future years however, check with your trustee or read your summary statement so you can answer the questions. Did you receive all the RMD for 20...? Chances are you did.
[Edited 01-28-2021|05:07 PST]
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