I have a tax free state pension plan which is a 401(a) plan. I receive monthly payments. I wasn't notified of any specific RMD, but now that I am 70 1/2 the interview is asking me how much of my distribution is required. How do I answer?
401(a) retirement plans have minimum required distributions. Since you were taking distributions all year, it is likely that you took the minimum distribution for 2017. I would call the plan administrator to confirm what the required minimum distribution amount was and that it was distributed to you. If it was, you can choose an appropriate option in TurboTax that will show you took your required minimum distribution.
For the answers, you can do as follows:
- On the screen labeled "About This Retirement Account", you can mark "Yes, some or all of this withdrawal was an RMD".
- Mark (unless you find out otherwise) that "all (or part) of the distribution was an RMD". Enter the amount if you entered that part of the withdrawals was an RMD.
- Continue through the remaining 1099-R questions.
- When you come to a screen labeled "Tell Us More About This Retirement Plan Distribution" mark whether you received the full RMD or not.
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