Virtually all pension plans in existence today fall under section 401 of the tax code and they all require RMD's after age 70 1/2. The question is just to be sure that the requirement was met. If you receive periodic (monthly) payments from any pension plan you can be assured that the custodian of the plan is meeting the requirements so you can safely answer "yes" to the question.
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.
https://ttlc.intuit.com/replies/3302117
Virtually all pension plans in existence today fall under section 401 of the tax code and they all require RMD's after age 70 1/2. The question is just to be sure that the requirement was met. If you receive periodic (monthly) payments from any pension plan you can be assured that the custodian of the plan is meeting the requirements so you can safely answer "yes" to the question.
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.
https://ttlc.intuit.com/replies/3302117
What do I do if I did not take any RMD in 2017 due to ignorance?
Exactly what type of retirement plan did you inherit?
Did you receive a 1099-R? If so what code in in box 4 and is the IRA/SEP/SIMPLE box checked?
Yes I received a1099R with box 4 says 0. I pay income tax on it at the end of the each year. I get a monthly distribution and the box for IRA/SEP/Simple is not checked. Thank you so much for your help. I do not think I have to take RMD but the way turbo tax asked the question from the lump sum is confusing.
Yes I get a monthly check and it is a retirement account from a hospital we both worked for.