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Say all of it is the RMD. If you need to start taking the RMD 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. So for the RMD question put in the same amount as box 1.
Say all of it is the RMD. If you need to start taking the RMD 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. So for the RMD question put in the same amount as box 1.
When it is a monthly amount from a pension, you say it was ALL an RMD.
Enter the amount received as shown in box 1 of the Form 1099-R as the RMD. All of pension income is an RMD.
Are RMD's taxed as ordinary income?
@rrsheriff1 wrote:
Are RMD's taxed as ordinary income?
Yes.
Usually RMD is taxable unless you made any non deductible contributions or made a Qualified Charitable Distribution. But a QCD is only for IRA RMD.
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