If a pension plan pays you monthly then the RMD is already calculated in that payment by the plan administrator...they just don't separate it out for you. So how can Turbotax expect you to know? In turbotax for tax year 2024, you are asked what amount of your pension is for the RMD, and you must enter some data point. The answers I have seen here are to put in the amount in box 1.....I am not an expert but this is wrong. You will be taxed on whatever amount you put in there. So if you put in the amount in box 1 of your 1099R you will see your tax jump up dramatically. I decided to enter "0" to get me past the issue since that info is only for turbotax and appears nowhere on the return. AS I figure it, since you are taxed on your pension anyway, the "0" is not defrauding anyone! I have attempted to find the info from the Pension Plan Administrator but have been unsuccessful.
