Solved: I have recieved an annuity from the Defense Finance and Accounting Service since my husband died in 1996. Why would it suddenly be RMD?
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I have recieved an annuity from the Defense Finance and Accounting Service since my husband died in 1996. Why would it suddenly be RMD?

I am 73 now but am receiving RMD through another annuity (USAA).  The annuity I receive from Defense has always been taxable, so I do not think it requires RMD.
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I have recieved an annuity from the Defense Finance and Accounting Service since my husband died in 1996. Why would it suddenly be RMD?

RMD is required for all retirement accounts.  That is why Turbo Tax has to ask the question.  For pensions, if it is a qualified plan, the RMD requirement is met because you are receiving periodic payments.  However, if you have the ability to control the payments amount, then you must calculate the proper RMD amount to withdraw.

If you are receiving a pension and cannot change the monthly amount, respond yes that you have taken your RMD for this retirement account.

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New Member

I have recieved an annuity from the Defense Finance and Accounting Service since my husband died in 1996. Why would it suddenly be RMD?

RMD is required for all retirement accounts.  That is why Turbo Tax has to ask the question.  For pensions, if it is a qualified plan, the RMD requirement is met because you are receiving periodic payments.  However, if you have the ability to control the payments amount, then you must calculate the proper RMD amount to withdraw.

If you are receiving a pension and cannot change the monthly amount, respond yes that you have taken your RMD for this retirement account.

View solution in original post

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