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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.
September 8, 2022
5:56 AM