ToddL99
Expert Alumni

Retirement tax questions

All pensions are, by definition, Required Minimum Distributions so the correct answer is "All of my distribution was RMD". 

 

All retirement accounts, even pensions, must meet the RMD requirements.  However, the way pension plans meet the RMD requirements is by creating an annuity paid periodically (usually monthly).   

 

Technically, any monthly pension payment is considered a Required Minimum Distribution (RMD) and the entire amount is an RMD. That is how you need to answer the questions. Therefore, you may simply select "yes" to the RMD 1st question ("Was this an RMD?").  You will also be asked if the amount reported is paid periodically in equal amounts.  By selecting "yes", the RMD requirements are met and you may continue with the tax preparation.