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We have 3 IRA's that were converted to annuities in 2022. Are any or all of these dispersements considered RMD's?

 
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2 Replies
SantinoD
Expert Alumni

We have 3 IRA's that were converted to annuities in 2022. Are any or all of these dispersements considered RMD's?

It depends, your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least 72 years young, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.

We have 3 IRA's that were converted to annuities in 2022. Are any or all of these dispersements considered RMD's?

Because payments from an annuity are based on your life expectancy, if you received a 1099-R from an annuity, you should say yes, it was your RMD.

 

If you converted your IRA to an annuity, and you are over your RMD beginning age, it is possible you were required to take an RMD before converting the remaining balance to an annuity.  Failing to do this (if required) can lead to penalties.   If you are trying to enter your 1099-R forms for the IRAs, we need more information to help.

@dmertz 

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