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Retirement income on 1099-R from both annuity and RMD - TurboTax question still problematic

My 1099-R from a company shows total income that includes both regular annuity payments and the RMD I arranged and received from other retirement accounts at the same company.  TurboTax is still asking me the same ambiguous question as before, which is how much of this total income is from an RMD. 

 

I asked about this last year, and was told I could use the total or the actual RMD amount and it wouldn't make a difference in how TurboTax computes the taxes - something about it making a difference only if a rollover is involved, which isn't the case for me.

 

This confused me again this year until I searched and found my same question as before. So I'll make a note of this previous answer. But it sure would help if Intuit could think of a better way to ask this question, because as is, it powerfully suggests that I need to keep track of and enter the actual RMD from the non-annuity accounts.

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1 Reply
MarilynG1
Employee Tax Expert

Retirement income on 1099-R from both annuity and RMD - TurboTax question still problematic

The IRS does not know (or care) what your RMD is supposed to be.

 

They rely on the Plan Administrators to be sure that a plan participant receives their RMD distribution each year, so that you don't need to keep track.  

 

When you enter any 1099-R in TurboTax and you're a certain age, you are asked about RMD.  Most indicate that 'All of the distribution is RMD' as they don't know what their RMD is.  In your case, if you know the amount, you could enter it.  

 

Here's more info on IRS Requirements for RMD's and What is RMD?

 

@dekieras 

 

 

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