JotikaT2
Employee Tax Expert

Retirement tax questions

It depends.

 

Are your referring to the 2019 tax year or 2020?

 

If you are referring to 2019, you should have received a Form 1099-R.  If you did not, you should contact your retirement company to ensure you receive your form so you report your income.

 

The Required Minimum Distribution (RMD) is actually a fixed amount that must be taken out each year once you reach 70 1/2 each year.  Your plan administrator should be following the rules to ensure you are taking the RMD. 

 

Attached is a link to the IRS worksheet if you need to determine what amount is. 

RMD Worksheets - IRS 

 

Also is a link with more information on RMD's. 

What is a RMD help article 

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