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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.
Also is a link with more information on RMD's.
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March 31, 2020
6:11 PM