turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

kkuesp
New Member

I have a 1099-R form from an annuity I inherited from my mom. The IRA/SEP/Simple box is not checked, is there a RMD on this type of annuity?

I need to know if this was not an IRA is there a RMD amount?  Turbo Tax is asking me for a RMD

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

I have a 1099-R form from an annuity I inherited from my mom. The IRA/SEP/Simple box is not checked, is there a RMD on this type of annuity?

Yes the RMD rules apply to all employer sponsored retirement plans, including profit-sharing plans, 401(k) plans, 403(b) plans, and 457(b) plans. You should be able to indicate that all of the disbursement was RMD in TurboTax.

For annuities, the plan sponsor/administrator should calculate the RMD for you.  The RMD is generally determined by dividing the adjusted market value as of December 31 of the preceding year by the distribution period that corresponds with your age in the Uniform Lifetime Table.



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply

I have a 1099-R form from an annuity I inherited from my mom. The IRA/SEP/Simple box is not checked, is there a RMD on this type of annuity?

Yes the RMD rules apply to all employer sponsored retirement plans, including profit-sharing plans, 401(k) plans, 403(b) plans, and 457(b) plans. You should be able to indicate that all of the disbursement was RMD in TurboTax.

For annuities, the plan sponsor/administrator should calculate the RMD for you.  The RMD is generally determined by dividing the adjusted market value as of December 31 of the preceding year by the distribution period that corresponds with your age in the Uniform Lifetime Table.



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question