CSF 1099R

[celento]

I am adding the CSF_1099R information. (Dad passed away - 94 yrs old.) Turbo Tax is asking me if it was all or part of withdrawl as an RMD. Any idea what I say? How do I know?

[DianeW777 · Accepted solution]

Yes. All retirement accounts, even pensions and annuities, must meet the required minimum distribution (RMD) requirements. However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically.  

• You may simply select YES to the RMD question (Was this withdrawal RMD and all of this was RMD).  
• 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.

The codes in box 7 will also dictate how the pension amount will be taxed.  It's likely your Dad has no remaining after-tax contributions, if he had any to start with. If there is an amount in box 2a then that will likely be the taxable amount on your return.