Annuities and Pensions

Forum|Forum|3 years ago
December 26, 2022
2 replies
26 views

Are required minimum distributions (RMDs) considered to be an annuity or pension for reporting income?

VolvoGirl

Level 15

Depends what it is from. Wait for the 1099R you will get in January to report it.

HanruiAuthor

Level 3

RMDs are reported on 1099R. But to use TurboTax, is that considered an annuity/pension?

VolvoGirl

Level 15

You can enter 1099R and RMD into any Turbo Tax version. RMD can come from IRA or 401K accounts. Pensions don't really have an RMD. Anything your pension pays you is considered to be the RMD. Unless it is a IRA or an Annuity inside a IRA it goes on the Pension and Annuities line. Don't really understand what you are asking?

NCperson

Level 15

@Hanrui why does it matter? just data enter the 1099-R upon receipt.

Critter-3

Level 15

All distributions from a pension or annuity are considered the RMD. Only IRA accounts have a true RMD that must be met every year so you will have to answer that question in the TT program.