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yayasweetpea
New Member

HOW ANSWER RMD?

78YR OLD RECEIVED A 1099-R. IT WAS INHERITED FROM HER SON. IT IS AN IRA.  SHE TOOK ALL THE CASH ONLY 23K. HOW DO I ANSWER RMD QUESTION? HER SOLE INCOME IS SOCIAL SECURITY. IS THIS TAXABLE?

3 Replies
macuser_22
Level 15

HOW ANSWER RMD?

Say it was all a RMD.

If a Traditional IRA then the box 2a is the taxable amount.

**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.**
yayasweetpea
New Member

HOW ANSWER RMD?

HOW DO I ANSWER THE RMD QUESTION?
macuser_22
Level 15

HOW ANSWER RMD?

Say it was all a RMD.

The answer to the question does not go on your tax return, it is simply to make sure you do not owe any penalty for not taking the RMD or use it for an ineligible rollover.

The question is just to be sure that the requirement was met.  
**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.**
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