I am assuming you have passed the age of 70 1/2,
which is the required age for the required minimum distributions. All retirement accounts, even pensions and
annuities, must meet the RMD requirements. However, the way the annuity plans meet the RMD
requirements is by creating an annuity paid periodically. You may simply
select YES to the RMD question (Was this withdrawal
RMD and all of this was RMD).
You will also be asked if the amount reported is paid periodically in equal
amounts. By selecting YES the RMD
requirements are met and you may continue with the tax preparation.
NOTE: You are not asking about this, but I'd like to mention this just in case...TurboTax has a separate entry
for the OPM, please be sure to enter our form in the right section:
- Federal Taxes
- Wages
& Income
- Scroll
down and select IRA, 401(k), Pension Plans. On the screen Tell Us Which 1099-R you Have please be sure to
select CSA -1099-R Civil Service annuity. Select Continue and you will see
automatically filled in information on
OPM. Select Continue again and you will see Enter
Annuity Information screen. You will be prompted to data entry and
additional questions about your annuity. Please be sure to enter all
information – including your contributions- exactly as it appears
on the form. This will ensure proper calculation of the taxable amount.
