Required Minimum Distributions are based on your age and the amount of money in your 401K plan and in your IRA. It will not be on the 1099R forms. Check with your plan administrator. You might also find it by looking at your account on the website.
If you have other questions about this, ask in the comment section below.
Required Minimum Distributions are based on your age and the amount of money in your 401K plan and in your IRA. It will not be on the 1099R forms. Check with your plan administrator. You might also find it by looking at your account on the website.
If you have other questions about this, ask in the comment section below.
How do I know if my distribution is ALL RMD or PART RMD? and does it make a difference if I answer it wrong?
@sharonimoe For 2020, the RMD was cancelled. You should mark that none of it was RMD. The question must remain for people that moved money around in 2020 for 2019.
In the future, any pension or annuity payments will cover the RMD automatically. If you do not take out all of your RMD, there is a penalty. You want to be sure that you take your full RMD each year moving forward.