Does an IRA cash out be treated as an RMD?

jinctx · ‎March 3, 2021

macuser_22 · ‎March 3, 2021

Not for 2020. RMD's were waived for IRA's. It was NOT a RMD.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

MinhT1 · ‎March 3, 2021

An IRA cash out (also called a distribution) is not necessarily a RMD, but it could be counted towards a RMD if you are required to take a RMD.

Please read this TurboTax Help topic on What is a RMD?

Also, you may be interested to know that RMDs have been waived for tax year 2020.

Please read this IRS document for more information.

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Does an IRA cash out be treated as an RMD?