- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
"Fact is, Fidelity provides one 1099R for all your RMDs for the year."
Only if you satisfy all of your IRA RMDs with one or more distributions from a single account. When distributions are made from different accounts, a separate Form 1099-R is issued for each account with, as required by the IRS, the Account Number box on the form showing the number of the account from which particular distributions were made. As encouraged by the IRS, Fidelity includes the account number on all Forms 1099-R.
With regard to the Hawaii pension exclusion, the information that I referenced indicates that all that seems to matter is the type of account from which the distribution is made, not the reason for the distribution. This would mean that any IRA RMDs that you satisfy with distributions from a regular traditional IRA, which is not considered by Hawaii to be a pension account, would not qualify for exclusion. Any IRA RMDs that you satisfy with distributions from the (not commingled) SEP IRA, which is considered by Hawaii to be a pension account, would qualify for exclusion.