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membrule
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Why is the 1099-R for a Pension being categorized as a RMD account when it is a Pension (Income) that has been taxed?

 
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Why is the 1099-R for a Pension being categorized as a RMD account when it is a Pension (Income) that has been taxed?

RMD stands for Required Minimum Distribution. It's the minimum amount of money you're required to take out of your retirement plan once you turn 70 1/2. The 1099-R is still taxed. TurboTax will help determine the correct way to handle the form once it is entered exactly as show. See link below for more information about RMD:

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

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Why is the 1099-R for a Pension being categorized as a RMD account when it is a Pension (Income) that has been taxed?

RMD stands for Required Minimum Distribution. It's the minimum amount of money you're required to take out of your retirement plan once you turn 70 1/2. The 1099-R is still taxed. TurboTax will help determine the correct way to handle the form once it is entered exactly as show. See link below for more information about RMD:

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

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