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New Member
posted May 31, 2019 8:46:35 PM

Should I report a pension plan payout as an RMD?

My husband receives a monthly distribution from his company’s pension plan. Turbo Tax wants to know is this is all an RMD amount.  Do I report this as an RMD even though RMD doesn’t apply to pensions?

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1 Best answer
Level 15
May 31, 2019 8:46:37 PM

Yes, under the law it is a required distribution.  Indicate that it is all RMD and his entire RMD with respect to this pension.

3 Replies
New Member
May 31, 2019 8:46:36 PM

Not all pensions are subject to the RMD for example a pension that is based on years of service and a salary figure (could be an average of a specified period) does not qualify for the RMD.  There is no sum of money in an account on which to base a RMD number.

Level 15
May 31, 2019 8:46:37 PM

Yes, under the law it is a required distribution.  Indicate that it is all RMD and his entire RMD with respect to this pension.

New Member
May 31, 2019 8:46:38 PM

Thank you for your quick response.