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Level 3
posted Feb 22, 2025 11:37:44 AM

I'm trying to confirm if "nonqualified annuities" have a required minimum distribution calculated or if the distribution is what it is?

When I was entering two separate 1099-Rs for annuity payments, I entered the distribution amount as the RMD when turbo tax screen asked if the account was subject to RMD. I think I should have indicated no amount instead. Entering the distribution amount increased the FED tax owed. If I back this out, the FED tax amount drops. Thanks.

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1 Replies
Expert Alumni
Mar 4, 2025 12:41:00 PM

Yes, back the amount out if no RMD is required.

 

@katzspur