Calculating taxable portion of RMD from OPM pension

[mcus]

How do you calculate the taxable portion of your pension (total RMD) if OPM puts unknown? Would you use the IRS Lifetime Table based on your age? 

[RachelW33]

Based on your Form 1099-R entry, TurboTax will walk you through a set of questions to determine the taxable portion of your OPM pension.

Follow these steps to enter your form:

1. Select Wages & Income
2. Locate the Retirement Plans and Social Security section and select Show more, then select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R)
3. Answer Yes to Did you get a 1099-R in 2023?, then Continue.
   • If you land on the screen, Your 1099-R Entries, select Add Another 1099-R
4. Select how you want to enter your 1099-R (import or type it in yourself) and follow the instructions
5. Choose the Office of Personnel Management (CSA 1099-R) Box
6. Enter your form and click continue and answer the follow-up questions
7. On the screen Any Periodic Payments? answer Yes you got regular payments from this retirement account 

From here, you will choose either the Simplified Method (preferred) or the General Rule to determine the taxable amount.  Here is the information from the TurboTax Learn More link from that page: 

You may be eligible to use the Simplified Method to calculate the taxable portion of annuity payments if you are a retired employee or are receiving the survivor annuity of an employee who died.

You want to use this if you can. This method is simpler and more beneficial than using the General Rule.

NOTE: If your annuity is a commercial annuity that you bought yourself, you must use the General Rule.

If your annuity start date is after November 18, 1996, you must use the Simplified Method for annuity payments from a qualified plan. Nonqualified plans (and certain annuitants age 75 or over) must use the General Rule.

If your annuity starting date is before November 19, 1996, you can use the Simplified Method only if ALL the following are true:

 1) Your annuity starting date is after July 1, 1986.

 2) The annuity payments are for either your life, or your life and that of your beneficiary.

 3) The annuity payments are from a qualified employer plan, a qualified employee annuity, or a tax-sheltered annuity.

 4) You were under age 75 when the payments began, or were entitled to fewer than 5 years of guaranteed payments.

If you don't qualify for the Simplified Method, then you'll need to use the General Rule.