Processing 1099rs. turbotax is calling it an IRA and wants RMD but it is just an amount I received same as other yrs from std plan. what has happened?

[Coleen3 · Accepted solution]

If there is a check in the box between boxes 7 and 8, that indicates an IRA.

Your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least 70 1/2 years young, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.

Required Minimum Distribution (RMD) rules apply to all employer-sponsored retirement plans such as pensions, profit-sharing, 401(k), 403(b), and 457(b) plans, as well as Traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs. However, RMDs are not required for Roth IRAs while the owner is still alive.

Update for 2020

New law: The Secure Act increases the age after which you must begin taking RMDs from 70 1/2 to 72. But this favorable development only applies to folks who reach 70 1/2 after 2019. So, if you turned 70 1/2 in 2019 or earlier, you’re unaffected. But if you will turn 70 1/2 in 2020 or later, you won’t need to start taking RMDs until after attaining age 72. As under prior law, if you’re still working after reaching the magic age and you don’t own over 5% of the employer, you can postpone taking RMDs from your employer’s plan(s) until after you’ve retired.

[garyhuffman]

No box ckd 7 or 8. No Ira/sim/simple ckd I have no $$ invested in my retirement acct. It just keeps coming monthly for the past 12 years.  I am 72. Any ideas?

[Coleen3]

It is an RMD. Indicate that you did take it.