What does it mean by cashing out the money in my retirement account? I put my annuity payments in the bank each month and pay bills? Is that what it means by cashing it out? I put in cashing it out because didn't roll it over but then I just got reques

[Fern]

You are considered to have cashed out your annuity payments. You did not roll them over.

RMD is required for all retirement accounts.  That is why Turbo Tax has to ask the question.  For pensions, if it is a qualified plan, the RMD requirement is met because you are receiving periodic payments.  However, if you have the ability to control the payments amount, then you must calculate the proper RMD amount to withdraw.

If you are receiving a pension and cannot change the monthly amount, respond yes that you have taken your RMD for this retirement account.