When doing the pension section, TurboTax is now asking if it is an RMD. My husband has been collection his pension for years on a monthly basis. Why this question?

cperlmutter1 · ‎June 6, 2019

MaryK1 · ‎June 6, 2019

The purpose of the required minimum distribution is so that people do not keep money in their retirement account in order to avoid paying taxes on it (I find it hard to believe but there are some people who do not need the money and/or do not want to pay taxes). With pensions, if you have been receiving regular payments you should be receiving the RMD but if you are not sure, you can contact your plan administrator.

https://ttlc.intuit.com/replies/3302117

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MaryK1 · ‎June 6, 2019

The purpose of the required minimum distribution is so that people do not keep money in their retirement account in order to avoid paying taxes on it (I find it hard to believe but there are some people who do not need the money and/or do not want to pay taxes). With pensions, if you have been receiving regular payments you should be receiving the RMD but if you are not sure, you can contact your plan administrator.

https://ttlc.intuit.com/replies/3302117

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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When doing the pension section, TurboTax is now asking if it is an RMD. My husband has been collection his pension for years on a monthly basis. Why this question?