RMD stands for required minimum distribution. It's the minimum amount of money you're required to take out of your retirement plan once you turn 72.
RMD rules apply to all employer-sponsored retirement plans, such as pensions, profit-sharing, 401(k), 403(b), and 457(b) plans, as well as Traditional IRAs and IRA-based plans, such as SEPs, SARSEPs, and SIMPLE IRAs. However, RMDs aren't required for Roth IRAs while the owner is still alive.
RMDs were waived for 2020. If the Required Minimum Distribution does not apply to you then select none/ you were not required to take a RMD.
To enter your Form from OPM:
- Login to your TurboTax Account
- Click on the Search box on the top and type “1099-R”
- Click on “Jump to 1099-R”
- On the "Who gave you a 1099-R?" screen select "Office of Personnel Management (CSA 1099-R) For U.S. Government Civil Service retiree annuity"
[Edited 2/17/2021 | 1:22pm PST]
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