1099r periodic paymentsquestion

[paddy832]

If the retirement benefits are paid monthly, in equal amounts, which is it - equal payments or periodic?

[Coleen3 · Accepted solution]

On the page "Any Periodic Payments?", this is what the questions refer to. Most pension plans are the first type.

Funds that you receive at regular intervals (weekly, monthly, quarterly, annually) over a predetermined period of time, for example, 15 years, or for life.

Equal periodic payments are annual withdrawals that you make from a pension plan or 401(k) plan. The amount you withdraw is calculated so that the funds last throughout your expected lifetime. 

[milljj]

So is the amt for Equal Periodic Payments the same as gross distribution on the 1099R?

[DMarkM1]

Yes.  Total for the equal and periodic payments will be the gross distribution on the 1099-R.

[kvander22]

My wife was the beneficiary (along with her two siblings) of a small annuity when her mother passed away in 2019 (at the age of 80).  She received a 1099-R showing the Gross Distribution.  It was a "total distribution" and not taxable. 

Any Periodic Payments.................The question asks:  Did "MY WIFE" receive payments from this retirement account on a regular basis such as monthly, quarterly or annually?

Since it was not my wife's retirement account, I'm not sure how to answer this.  I believe my mother-in-law was receiving an annual distribution. But "my wife", of course was not receiving anything.  Thank you for your assistance.

[MaryK4]

Since this was a total distribution you will indicate that it was NOT a periodic payment.  TurboTax asks to see if regular payments will be made in the future.

@kvander22