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You will meet the RMD requirements related to your employer pension plan distributions (see below)
Since the IRS requires the reporting of all RMD payments relates to all qualified plans (and an employer pension plan falls under this category), the system will still ask about RMD (even if it does not apply to your pension distributions).
A qualified plan is a retirement plan sponsored by employers for the exclusive benefit of employees. These plans follow special IRS rules and qualify for special tax treatment, such as deferring paying taxes on the contributions until retirement.
As for the required minimum distribution (RMD), you are required to take your RMD for your IRA and 401(k) accounts. However, if you are asked a question about taking an RMD (because you meet the age requirements) from your pension when entering your pension information, the answer is "yes" that this withdrawal was an RMD and that all the distribution was an RMD (screenshot)
Yes, but how do I figure amount? System won’t go on
You don't need to do any calculations. The amount in Box 1 is used. If you got it, it counts toward RMD.
Yes we met the 'RMD' on each of our pensions since we took the entire amount of the pensions as payments. HOWEVER, your TurboTax interview explicitly states ""Enter how much of the $xxxx [name of recipient] received applies to the RMD." It is false to claim 'all of it is the RMD', the IRS amount of the RMD is a complex computation related to the employees age, the amount of the total distribution, and other factors. SO please answer the question, Thank you
But Box 1 is NOT the RMD for that portion of the pension distribution that is the true RMD.
Say all of it is the RMD. If you are 70 1/2 it will ask you if it is the RMD. Say yes. Anything your pension pays you is considered to be the RMD.
That is just for pensions. If you get an RMD for a 401K you have to figure that one out.
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