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Level 3
posted Dec 26, 2022 12:17:49 PM

Annuities and Pensions

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

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5 Replies
Level 15
Dec 26, 2022 12:19:32 PM

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

Level 3
Dec 26, 2022 12:22:13 PM

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

Level 15
Dec 26, 2022 12:24:58 PM

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?  

Level 15
Dec 26, 2022 8:17:01 PM

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

Level 15
Dec 27, 2022 3:37:02 PM

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.