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jamduffy
New Member

I receive a monthly pension from employer pension. I am 72. I don’t understand rmd. Does a qualified pension plan payment count? What and how do I pay it

 
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IsabellaG
Employee Tax Expert

I receive a monthly pension from employer pension. I am 72. I don’t understand rmd. Does a qualified pension plan payment count? What and how do I pay it

Yes, if you are receiving a regular qualified pension from your employer, you are already receiving your RMD. Once you are over 70 1/2 and receiving retirement payments from your former employer's plan, you can answer that the entire amount is RMD. Since you are paid in monthly installments from your plan, all of the payments represent RMD. You don't have to do anything.

See this answer from TurboTax Margaret:https://ttlc.intuit.com/replies/5037840

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IsabellaG
Employee Tax Expert

I receive a monthly pension from employer pension. I am 72. I don’t understand rmd. Does a qualified pension plan payment count? What and how do I pay it

Yes, if you are receiving a regular qualified pension from your employer, you are already receiving your RMD. Once you are over 70 1/2 and receiving retirement payments from your former employer's plan, you can answer that the entire amount is RMD. Since you are paid in monthly installments from your plan, all of the payments represent RMD. You don't have to do anything.

See this answer from TurboTax Margaret:https://ttlc.intuit.com/replies/5037840

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

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