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New Member
posted Apr 2, 2023 8:30:28 AM

I am 93 and do not have an IRA. how to answer the RMD question?

0 3 258
1 Best answer
Expert Alumni
Apr 2, 2023 8:46:45 AM

You would answer Yes, if you are receiving a Required Minimum Distribution from any type of employe sponsored retirement plan (includes profit-sharing, 401(k), 403(b) and 457(b) plans). It doesn’t just apply to IRAs. If you do not know if you are receiving a RMD from one of those plans, contact the plan administrator and ask them.

 

For more information, please refer to the IRS FAQs Retirement Plan and IRA Required Minimum Distributions FAQs.  You can also review the TurboTax article What is an RMD?

3 Replies
Level 10
Apr 2, 2023 8:37:59 AM

If you answer that you did not have an IRA or 401k then you do not have an RMD. You answer that you did not rake an RMD.

Level 15
Apr 2, 2023 8:41:38 AM

Why did you get a 1099R?  If it's for your pension then say YES.  Anything your pension pays you is considered to be the RMD. Traditional pensions automatically fulfill the rules of an RMD.

Expert Alumni
Apr 2, 2023 8:46:45 AM

You would answer Yes, if you are receiving a Required Minimum Distribution from any type of employe sponsored retirement plan (includes profit-sharing, 401(k), 403(b) and 457(b) plans). It doesn’t just apply to IRAs. If you do not know if you are receiving a RMD from one of those plans, contact the plan administrator and ask them.

 

For more information, please refer to the IRS FAQs Retirement Plan and IRA Required Minimum Distributions FAQs.  You can also review the TurboTax article What is an RMD?