I inherited a Hartford Life & Annuity Ins Co from my mother. The question turbo tax ask. 1. Was some or all of the withdrawl RMD? 2. Was all RMD? 3. Was I getting regular RMD payments?

[dmertz · Accepted solution]

TurboTax asks this question only to determine the portion that might otherwise be eligible for rollover.  However, because you are not permitted to roll over any distributions from this account inherited from your mother (and therefore did not roll over any of this distribution), you can simply say that the entire amount was RMD.

[Fern]

RMD is required for all retirement accounts.  That is why Turbo Tax has to ask the question.  When you inherit an account from someone other than your spouse, you have to take an RMD based on that person's age.

If you took a total distribution, the RMD requirement is met.

If you are taking monthly payments, the RMD requirement is met if the payments are based on your mother's age.

The Required Minimum Distribution (RMD) amount for a retirement account is determined by applying a life expectancy factor set by the IRS to your account balance at the end of the previous year. To calculate your RMD:

Find your age in the IRS Uniform Lifetime Table (below).
Locate the corresponding life expectancy factor.
Divide your retirement account balance as of December 31 of the prior year by your life expectancy factor.

The IRS has worksheets for you to do these calculations.  See https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Required-Minimum-Distribution-Worksh...