If there were monthly benefits, most likely the RMD has been met and you can answer the question with a yes that the RMD has been met. TurboTax asks the question about taking a RMD. TurboTax will give you the option for indicating that you did not need to take an RMD.
Below is a list of plans that require RMDs.
These minimum distribution rules apply to:
- traditional IRAs
- SEP IRAs
- SIMPLE IRAs
- 401(k) plans
- 403(b) plans
- 457(b) plans
- profit-sharing plans
- other defined contribution plans
Required minimum distributions for defined benefit plans and annuity contracts all require RMD's after age 70 1/2. If you receive periodic (monthly) payments from any pension plan you can be assured that the custodian of the plan is meeting the requirements so you can safely answer "yes" to the question.
If an employee dies after attaining his RBD, then there must have been an RMD in the year of death. If the employee took the RMD before he died, nothing further needs to be distributed that year. If the employee did not take the RMD before he died, then the RMD needs to be paid to the beneficiary before the year is up.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
