Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jan 27, 2020 9:08:47 AM

If My Gross dist was paid to me in monthly retirement paymentss. Nothing was put in IRA or savings. does this meet the reqirement of RMD dist.

0 2 342
2 Replies
Expert Alumni
Jan 27, 2020 11:05:17 AM

Yes, if you didn't roll any amount to another retirement account, the distribution meets the RMD requirements. 

Level 15
Jan 27, 2020 11:30:59 AM

RMDs are not permitted to be rolled over.  Even if deposited into another qualified retirement account, the RMD is still satisfied but the impermissible deposit of this money into another qualified retirement account represents an excess contribution subject to penalty.