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June 6, 2019
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I'm trying to enter my Pension plan 1099-R and it won't let me mark the box that it's a monthly payment it's not an RMD and when I mark that the mark just goes away

  • June 6, 2019
  • 1 reply
  • 16 views
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If you are receiving a monthly pension payment, the entire amount is considered an RMD.

All retirement accounts, even pensions, must meet the RMD requirements.

However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically (in your case monthly.  Therefore, you may simply select "yes" to the RMD 1st question.  You will also be asked if the amount reported is paid periodically in equal amounts.  By selecting "yes" the RMD requirements are met and you may continue with the tax preparation.

1 reply

Answer
June 6, 2019

If you are receiving a monthly pension payment, the entire amount is considered an RMD.

All retirement accounts, even pensions, must meet the RMD requirements.

However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically (in your case monthly.  Therefore, you may simply select "yes" to the RMD 1st question.  You will also be asked if the amount reported is paid periodically in equal amounts.  By selecting "yes" the RMD requirements are met and you may continue with the tax preparation.