I have a pension. not an ira. why is the program asking about rmd on my 1099R.

verad · ‎June 7, 2019

turbo tax is forcing me to answer several yes no questions about rmd. my pension has nothing to do with rmd. this has been a problem for years. why hasn't turbo tax fixed this so you are not running down a list of questions that are impossible to answer because none are correct.

Fern · ‎June 7, 2019

RMD is required for all retirement accounts. That is why Turbo Tax has to ask the question, even for pensions.

For pensions, if it is a qualified plan, the RMD requirement is met because you are receiving periodic payments. However, if you have the ability to control the payments amount, then you must calculate the proper RMD amount to withdraw.

If you are receiving a pension and cannot change the monthly amount, respond yes that you have taken your RMD for this retirement account.

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verad · ‎June 7, 2019

Turbo tax should ask if the 1099-R is a transitional pension with a fixed monthly payout (not any type of IRA or IRA like fund). Then it could skip over all the RMD questions. It would reduce a lot of confusion. Thanks

steve-williams · ‎June 7, 2019

I agree with this comment. If I respond yes, then it ask is this 100% RMD. I don't know nor do I think my plan coordinator would know. I think Turbo Tax should correct this in their software as discussed in the comments above, It is a confusing issue and does not seem to impact the tax results as I tried it both ways.

MartyDC · ‎June 7, 2019

I understand why TT is asking about RMD's but the way it asks about it is confusing. It should say that you've met the RMD if you have no control over the monthly amount paid and not ask if all of you monthly annuity is an RMD.

mikendonna2 · ‎June 7, 2019

If 'YES' then what do I put for the 'percent' part of the TT form ? this is a monthly Pension payment ?

macuser_22 · ‎June 7, 2019

What "percent part"? Do you have your 2018 1099-R?
Do you mean the RMD - it is ALL the RMD if a pension.