Hello, Regular pensions can be subject to the RMD ...
MargaretL1
New Member

Retirement tax questions

Hello,

Regular pensions can be subject to the RMD rules... However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically. By entering the forms and answering the questions about yours and your spouse's RMD you have satisfied the requirements.  Your efforts are reported to the IRS by not creating form 5329, which reports penalties on undistributed RMDs, and by listing your distributions on the respective lines.

You generally have to take an RMD from any retirement account to which you have made tax-deferred contributions or had tax-deferred earnings. These accounts include:

  • Traditional IRAs
  • SEP IRAs
  • SIMPLE IRAs
  • 401(k), 403(b) and 457 retirement plans
  • Pension and profit sharing plans
  • Inherited beneficiary qualified accounts

As you have correctly noticed, IRA distributions are reported on line 15, whereas pension distributions are indicated on line 16. 

Good luck!

I hope you have found this information helpful.

View solution in original post

This widget could not be displayed.
Privacy Settings