Retirement tax questions

Jameslindasvanoe · ‎February 16, 2021

I was told that my pension from Wisconsin Retirement System is a qualified plan. Therefore part of the pension is an RMD. However you are asking for the amount of the RMD in your tax form. Yet it is not a part of the Form 1099-R. There is no place on the form that shares that info. What do I do? Where do I get this? or is the agent that I spoke with ill informed and the pension is not a qualified plan?

ToddL99 · ‎February 16, 2021

All of your pension from the Wisconsin Retirement System is an RMD.

The entire amount of a monthly defined pension payment is an RMD (required minimum distribution). 

When entering the 1099-R, be sure that the IRA/SEP/SIMPLE box is not checked.

When asked "Was this withdrawal an RMD?", the answer is "Yes",  then check "All of this distribution is an RMD."

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Jameslindasvanoe · ‎February 17, 2021

Thanks Todd. It all can be a bit confusing.

Jim