Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

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

cancel
Showing results for 
Search instead for 
Did you mean: 
dmhecox
New Member

I have a retirement plan and I believe it is a qualified plan. It does not have a RMD aspect to it I believe since it is not an IRA plan. Am I correct?

I have a retirement plan from my former employer and I believe it is a qualifies plan.  I receive monthly payments from the plan.  RMDs are not required from this type of plan, are they?
1 Best answer

Accepted Solutions
RichardG
New Member

I have a retirement plan and I believe it is a qualified plan. It does not have a RMD aspect to it I believe since it is not an IRA plan. Am I correct?

No, your pension payments are not subject to the required minimum distribution rules.

View solution in original post

2 Replies
RichardG
New Member

I have a retirement plan and I believe it is a qualified plan. It does not have a RMD aspect to it I believe since it is not an IRA plan. Am I correct?

No, your pension payments are not subject to the required minimum distribution rules.
dmertz
Level 15

I have a retirement plan and I believe it is a qualified plan. It does not have a RMD aspect to it I believe since it is not an IRA plan. Am I correct?

Even pensions are subject to section 401(a)(9) RMD requirements.  TurboTax asks the question to determine if any of the distribution is eligible for rollover.  No pension payments are eligible for rollover, so in TurboTax, indicate that your pension payment is all RMD and the entire RMD required of the pension.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~