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debjcr64
New Member

This is a monthly payment from general motors retirement plan

 
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MargaretL
Expert Alumni

This is a monthly payment from general motors retirement plan

If you are asking about RMD - select Yes. All retirement accounts, even pensions and annuities, must meet the RMD requirements.  However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically.  You may simply select YES to the RMD question (Was this withdrawal RMD and all of this was RMD).  You will also be asked if the amount reported is paid periodically in equal amounts.  By selecting YES the RMD requirements are met and you may continue with the tax preparation.

If you are asking about "cashing out" question in TurboTax, all "cash out" means, when going through TurboTax questions, is that you did not move the money to another retirement account.  It does not mean that it was a cashing out a plan. By selecting this option (please do so) you would simply indicate that you did not do a rollover or that you did not move the payments back to another retirement account. 

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