RMD

[Ebeth1912]

My husband died before 701/2. I inherited his retirement check. I keyed in the 1099R info and TT is asking, since he would have been over 701/2 in 2019, I needed to take a minimum amount of money out of the account -RMD.  I am not over 70. So the question is:

Was this withdrawal an RMD?

Yes, some or all was RMD or No, none of this was RMD.

Now it has been raised to 72 for RMD. So how do I answer?

[RobertG]

Yes, the withdrawal was an RMD.

If you receive periodic (monthly) payments from any pension plan you can be assured that the custodian of the plan is meeting the requirements so you can safely answer "yes" to the question. 

Virtually all pension plans in existence today fall under section 401 of the tax code and they all require RMD's.  The question in TurboTax is just to be sure that the requirement was met.

If you are continuing to receive the same pension/annuity/retirement account distribution every month/year over your expected lifetime, then you are indeed receiving your RMD each year. You are not in jeopardy of having failed to receive your required annual RMD each year. It is automatic.  As long as you are receiving periodic payments, you have met the RMD requirement. 

For further information please see the TurboTax website: What is an RMD?

[nikkiisakson]

I DID answer Yes for both of my husbands pensions and for mine.  It still keeps asking me about it and it is also asking me about disaster relief even though I said we didn't get any.  I am SO FRUSTATED!!

[DeanM15]

The 1099R entry screens and the questions that come after the entry screens can be frustrating. They ask the same questions, the "natural disaster" questions in particular, each time you go through the 1099R entry screens. 

If you have gone through the entry screens for the 1099R and answered all the questions, the good news is you do not have to go through them again. 

[Don Edwards TX]

does your answer apply to CSA1099R annuity distributions also.....it just seems "off" for Turbotax to treat this income as a RMD??  Even so, sounds like I should answer yes it was RMD and yes it all was RMD...agree?

[DaveF1006]

i have advised people to indicate that all of it is an RMD especially if they don't know what portion of it is the RMD distribution. This is not something that gets flagged by the IRS, in my experience in preparing these types of returns.