I get a monthly pension check from my Delta Airlines self funded pension plan. I retired in 2000 and an 71 and 1/2 years old. Does the monthly distributing meet the RMD requirements and if so how should the questions be answered on the tax forms through Turbo Tax.
That part of the program confuses a lot of taxpayers. It does not apply to you. Say that the distributions meet the requirement for your RMD.
So we should have selected Grover Received all the RMD for 2016 in Turbo tax. I skipped that part can I go back and change it?
You can look at line 59 of your 1040. If there is no amount there you had no penalty assessed so you don't have to do anything. If there is an amount there, go back and change it.
Intuits asks "how much of annual income applies to RMD" Should we write in the entire amount ?
@jeffk451 wrote:
Intuits asks "how much of annual income applies to RMD" Should we write in the entire amount ?
If you are age 70 1/2 or older then All of your pension is an RMD.