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Level 1
February 12, 2021
Question

Retirement Accounts

  • February 12, 2021
  • 2 replies
  • 26 views

The  Turbo Tax Premier for 2020 must have a flaw. I get a monthly retirement check from a qualified state retirement plan. This year Turbo Tax insists this has to be an RMD, or I cashed out. What's going on?

2 replies

DoninGA
Level 15
Level 15
February 12, 2021

If you are age 70 1/2 or older pension/retirement plan payments are all an RMD.

Level 2
February 12, 2021

What if you are not age 70? My retirement is exempt from NYS taxes but is being included in the Federal AGI and is not being subtracted from the amount taxed by NY. Am I missing something? This is my first year filling a 1099R.

 

Thanks