I am 74, and I receive a monthly pension and also have a 401k.
Turbotax says my entire monthly pension payments are RMD's.
If so, and these be applied to my RMD for the 401k?
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No the pension payments can not be applied to the 401K RMD. Did you take the 401K RMD?
FOR PENSION
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.
For each 1099R, When it asks for the RMD amount just enter the same amount that’s in box 1 of THAT one 1099R.
Have you contacted your 401(k) plan administrator concerning the RMD that is required to be distributed based on your age? If so, then the Form 1099-R you received from the 401(k) plan is an RMD.
Pension income is always an RMD. It has no bearing on a required RMD from either a 401(k) or an IRA.
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