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firstyr16
New Member

I get my Teachers' Retirement from STRS in California. No idea what an RMD is

 
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MargaretL
Employee Tax Expert

I get my Teachers' Retirement from STRS in California. No idea what an RMD is

I am assuming you have passed the age of 70 1/2, which is the required age for the required minimum distributions.

All retirement accounts, even pensions and annuities, must meet the RMD requirements. However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically.  In TurboTax, 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.

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MargaretL
Employee Tax Expert

I get my Teachers' Retirement from STRS in California. No idea what an RMD is

I am assuming you have passed the age of 70 1/2, which is the required age for the required minimum distributions.

All retirement accounts, even pensions and annuities, must meet the RMD requirements. However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically.  In TurboTax, 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.

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