Hal_Al
Level 15

Retirement tax questions

There is nowhere on the actual tax forms that you report that you got a  Required Minimum Distribution (RMD).

 

In TurboTax (TT), you report the 1099-R you received. At the end of the 1099-R interview, TT asks if any of the distribution, shown on the  1099-R, was RMD.   

 

Because your birth date indicates you are over 72 (70 ½ if you reach 70 ½ before January 1, 2020). TurboTax asks the RMD question. Answer that question yes and that all your distribution is RMD. This will  keep TurboTax from calculating a failure to take RMD penalty. Regular periodic pension payments are the pension's own RMDs.