DawnC
Expert Alumni

Retirement tax questions

All retirement accounts, even pensions, must meet the required minimum distribution requirements.  Since you are receiving monthly payments through the pension, you are meeting the RMD requirements.  The answer to that question is simply to make sure you do not owe any penalty for not taking the required minimum distribution.   Since pension plans fall under Sect. 401 and require an RMD after you are 70.5, you need to answer YES to the RMD question, and ALL to the next question about how much of it is RMD, so the TurboTax does not generate a penalty.  

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