1099r reitirement from prudetial ins co , tubo wants toknow if ihad rmd take out the answer is no, no one has said anything about this, i am 701/2 yrs old. do i just continue and contact prudentiallater
If your income from Prudential is part of a pension then the Required Minimum Distribution rules are more than likely being followed by the custodian of your plan. You can answer "Yes" to this question. If you answer "No" you may be subject to a penalty.
The TurobTax FAQ on this subject states "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.
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."
If your income from Prudential is part of a pension then the Required Minimum Distribution rules are more than likely being followed by the custodian of your plan. You can answer "Yes" to this question. If you answer "No" you may be subject to a penalty.
The TurobTax FAQ on this subject states "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.
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."