rmd

quehanna90 · ‎February 5, 2025

My 401k is fully annuitized and I have been receiving monthly payments for years. What do I enter into turbotax 2024 when it asks what portion of my payment is for rmd? The payer, Metlife, has never provided me with an rmd.

MinhT1 · ‎February 5, 2025

If you receive your annuity by monthly payments, then all payments are considered RMDs.

In TurboTax, you can answer that the amount received is an RMD and that your RMD is equal to the amount received.

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

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MinhT1 · ‎February 5, 2025

If you receive your annuity by monthly payments, then all payments are considered RMDs.

In TurboTax, you can answer that the amount received is an RMD and that your RMD is equal to the amount received.

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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