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.

i receive a very small pension that was my husbands ($188/mo). He was already taking this when he passed. I was the beneficiary. TT wants me to treat like an IRA ?

 
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.

5 Replies

i receive a very small pension that was my husbands ($188/mo). He was already taking this when he passed. I was the beneficiary. TT wants me to treat like an IRA ?

Did you get a 1099R for the pension?

 

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

i receive a very small pension that was my husbands ($188/mo). He was already taking this when he passed. I was the beneficiary. TT wants me to treat like an IRA ?

I've been getting this for years.   This isn't about the 1099-R.   What's puzzling is TT is asking about RMD ....

it's a monthly distribution that i;ve receved since 2013... but it's trying to pigeonhole this as an IRA... never was,

it is a pension plan distribution.

rjs
Level 15
Level 15

i receive a very small pension that was my husbands ($188/mo). He was already taking this when he passed. I was the beneficiary. TT wants me to treat like an IRA ?

All the payments from a pension are technically an RMD. Just answer that it was an RMD, and that all of it was an RMD. The RMD amount is the total amount of the distribution.

 

i receive a very small pension that was my husbands ($188/mo). He was already taking this when he passed. I was the beneficiary. TT wants me to treat like an IRA ?


@Myrosetree wrote:

I've been getting this for years.   This isn't about the 1099-R.   What's puzzling is TT is asking about RMD ....

it's a monthly distribution that i;ve receved since 2013... but it's trying to pigeonhole this as an IRA... never was,

it is a pension plan distribution.


The idea of an RMD is that you can't let the balance sit indefinitely, you have to withdraw it over your expected life span.  Since a defined pension is already calculated (by the payer) to be paid out over your lifetime, it is technically the same as taking an RMD from an IRA.  So just answer yes this is an RMD.  

i receive a very small pension that was my husbands ($188/mo). He was already taking this when he passed. I was the beneficiary. TT wants me to treat like an IRA ?

You must have turned 72 in 2024.  That's when you need to start taking the RMD from IRA and 401K accounts.   As answered above just say YES it is the full RMD.  Anything your pension pays you is considered to be the RMD. Traditional pensions automatically fulfill the rules of an RMD.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question