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Level 1

Required Minimum Distribution Reporting

I have reported my RMD several years using TurboTax, and the amount has always appeared on Line 15b/1040.  This is my wife's first RMD year.  She got an RMD distribution from an employer qualified saving plan (401K).  The amount appeared on Line 16b along with our pension amounts.  The difference seems tp be that 1099's with Box 2b checked as "Taxable amount not determined" end up on Line 15a/1040, whereas the 1099's with Box 2b not checked end up on Line 16b/1040.

Regular persion payments are not part of the RMD.

How does the IRS know that  she took her RMD?  Is the 1040 the vehicle, or are there other systems in place that tell the IRS that the RMD was taken?

We have done everything right to take our RMD's but I just don't understand how our efforts have been reported to the IRS.

Thanks,

Bob [personal info removed]

1 Best answer

Accepted Solutions
Level 1

Required Minimum Distribution Reporting

Hello,

Regular pensions can be subject to the RMD rules... However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically. By entering the forms and answering the questions about yours and your spouse's RMD you have satisfied the requirements.  Your efforts are reported to the IRS by not creating form 5329, which reports penalties on undistributed RMDs, and by listing your distributions on the respective lines.

You generally have to take an RMD from any retirement account to which you have made tax-deferred contributions or had tax-deferred earnings. These accounts include:

  • Traditional IRAs
  • SEP IRAs
  • SIMPLE IRAs
  • 401(k), 403(b) and 457 retirement plans
  • Pension and profit sharing plans
  • Inherited beneficiary qualified accounts

As you have correctly noticed, IRA distributions are reported on line 15, whereas pension distributions are indicated on line 16. 

Good luck!

I hope you have found this information helpful.

4 Replies
Level 1

Required Minimum Distribution Reporting

Hello,

Regular pensions can be subject to the RMD rules... However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically. By entering the forms and answering the questions about yours and your spouse's RMD you have satisfied the requirements.  Your efforts are reported to the IRS by not creating form 5329, which reports penalties on undistributed RMDs, and by listing your distributions on the respective lines.

You generally have to take an RMD from any retirement account to which you have made tax-deferred contributions or had tax-deferred earnings. These accounts include:

  • Traditional IRAs
  • SEP IRAs
  • SIMPLE IRAs
  • 401(k), 403(b) and 457 retirement plans
  • Pension and profit sharing plans
  • Inherited beneficiary qualified accounts

As you have correctly noticed, IRA distributions are reported on line 15, whereas pension distributions are indicated on line 16. 

Good luck!

I hope you have found this information helpful.

Level 1

Required Minimum Distribution Reporting

THANK YOU. bd
Level 1

Required Minimum Distribution Reporting

My pleasure and thank you for choosing Turbo Tax.
Level 2

Required Minimum Distribution Reporting

Both TurboTax 2012 and 2013 have put RMD's on line 16 and not 15 as reported.   This only occurs with spouse having a pension and not with one that does not have a pension, when the RMD is actually on line 15.  Have tried in various ways with both 2012 and 2013 TT to change it but with no success.