turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

My pension that I am receiving does not require a RMD but when I add it into Turbo Tax it asks me what part of the amount is an RMD, what should I do about that?

I checked with my company that I am receiving my retirement benefits from and they said there is no way to calculate what the RMD is, there is no required RMD from my pay but I don't know how to proceed in Turbo Tax because it asks what part of the pay is an RMD.
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.

2 Replies

My pension that I am receiving does not require a RMD but when I add it into Turbo Tax it asks me what part of the amount is an RMD, what should I do about that?

While the plan might not call them RMDs, they are indeed required distributions under the tax code, so the entire amount is RMD.  Being an RMD simply means that these distributions are not eligible for rollover.

 

Say all of it is the RMD.  If you are 72  it will ask you if it is the RMD.  Say yes.  Anything your pension pays you is considered to be the  RMD.  Traditional pensions automatically fulfill the rules of an RMD.

DaveF1006
Expert Alumni

My pension that I am receiving does not require a RMD but when I add it into Turbo Tax it asks me what part of the amount is an RMD, what should I do about that?

It depends. If you are certain there is no RMD requirement, you may indicate this in your return when you reach the following screen.

 

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

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies