RMD's and Pension Plans

[sjsdenton]

How can a Pension Plan be subjected to RMD when there is no account value? In fact, there is a box 2b that wants to know if "Taxable Amount not Determined" or not. If it is not checked how can an RMD be calculated? The pension is already being taxed as ordinary income.

[xmasbaby0]

If you entered a 1099R for a pension you just need to say it was all an RMD.

[MinhT1]

If you receive your pension in monthly payments then all payments are considered RMDs.

In TurboTax, you can answer that the whole sum received is RMD and that your RMD is equal to the total received. 

This way, TurboTax will know that you have satisfied all RMD requirements.

[sjsdenton]

I don't suppose you can quote line and verse in the IRS tax code that says that, can you?

[bjbgrant]

Your first sentence about oensions paid monthly are considered all RMDs, should have be incorporated into Turbotax online.  It would have saved me many hours of time trying to find an answer to that question.

[fanfare]

The Turbotax question is confusing. It's been that way forever. They refuse to change it.

[sjsdenton]

I have been taking RMD's for 3 yrs and used TurboTax for 20 yrs and I have NEVER been asked about RMD for pension income. As I stated earlier, the purpose of RMD is to force people to take money out of IRA's. Since pensions are already on auto-distributions based on either single or joint lives, it should not apply. After all, the IRS already has a place to identify a 1099-R as IRA/SEP/Simple. If that box is checked, as the RMD question. If not, don't ask for it.