RMD

[Btolo]

I am retired, receiving monthly distributions from my Pension (equal amounts) and over 72 1/2 years of age. Does the RMD applies to these monthly distributions?

[rjs]

All of the monthly distributions from your pension plan are considered an RMD. After you enter your 1099-R and TurboTax asks whether the withdrawal was an RMD, you answer Yes, all of it was an RMD. But you do not have to withdraw any additional amount. The monthly pension payments are the entire RMD and satisfy the RMD requirement.

[DaveF1006]

Yes, you are required to take RMD distributions since you are over the age of 72..  To report, you will report your 1099R and as you finish out the section, Turbo Tax will prompt you for information regarding your RMD requirement for year 2021. To report:

1. Go to federal>wages and income>Retirement plans and Social Security
2. Ira (401K), pension plan Withdrawals(1099R) Start