AmyC
Expert Alumni

Retirement tax questions

Since you chose to use the 5 year rule, any amount you take out will exceed the RMD.

 

The IRS wants to make sure you take out the Required Minimum. There is a penalty if you do not take out the RMD. Since the goal is to fine you for not taking the minimum, any answer that ensures there is no penalty, is fine.

 

A safe answer is yes, it was all RMD. This simply translates into the software that you do not owe a penalty. Nowhere does it mark that it was all RMD to the IRS.

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