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Retirement tax questions
The required minimum distribution (RMD) for any year is the account balance as of the end of the immediately preceding calendar year divided by a distribution period from the IRS’s “Uniform Lifetime Table.” See the IRS link above to see the worksheets and tables. Your plan administrator generally provides you with the calculated amount.
Form 1099-R doesn't include an amount for required minimum distributions (RMDs). To confirm the amount of your RMD, refer instead to your Form 5498. If you’ve reached the age for RMDs, and you didn’t receive Form 5498, contact your plan administrator.
What are required minimum distributions (RMD)?
If you’re age 73 or above, TurboTax will ask several questions when you’re entering your 1099-R information. These questions help you see if you’ve met the RMD rules so that you can avoid the IRS penalty.
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