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Level 2
posted May 11, 2021 12:46:42 PM

Is a RMD the same thing as a regular disbursement? I don't know how to answer this question on TurboTax

I am doing my parents taxes on Turbo Tax.  I put in the RMD of my dad's TSP and now it's asking me if he had regular (weekly, monthly, annually) disbursements made.  I am thinking the answer is "No" but don't want to make the wrong choice.

Thanks.

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1 Best answer
Expert Alumni
May 11, 2021 2:19:44 PM

The answer would be "No".

 

The TSP (Thrift Savings Plan) is much like a 401K plan; you decide when and how much to withdraw, at least until the RMD rules kick in.  

 

The question about regular (weekly, monthly, annually) disbursements is applicable to traditional pension plans, where the timing and amount of payments is set by a formula.

1 Replies
Expert Alumni
May 11, 2021 2:19:44 PM

The answer would be "No".

 

The TSP (Thrift Savings Plan) is much like a 401K plan; you decide when and how much to withdraw, at least until the RMD rules kick in.  

 

The question about regular (weekly, monthly, annually) disbursements is applicable to traditional pension plans, where the timing and amount of payments is set by a formula.