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bronco015
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How do I enter a required minimum distribution from a 403(b)? Does that amount count as investment income towards the medicare net investment tax?

 
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dmertz
Level 15

How do I enter a required minimum distribution from a 403(b)? Does that amount count as investment income towards the medicare net investment tax?

You enter the distribution by entering under Wages & Income (or Personal Income) -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R) the Form 1099-R reporting the distribution.  Answer the follow-up questions to indicate how much of the distribution was RMD.  The Form 1099-R reporting your 403(b) distribution will have the gross amount in box 1, the taxable amount in box 2a, any after-tax amount in box 5 and code 7 in box 7.

Distributions from retirement accounts are not treated as investment income.  They are not included in Part I of Form 8960.

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dmertz
Level 15

How do I enter a required minimum distribution from a 403(b)? Does that amount count as investment income towards the medicare net investment tax?

You enter the distribution by entering under Wages & Income (or Personal Income) -> Retirement Plans and Social Security -> IRA, 401(k), Pension Plan Withdrawals (1099-R) the Form 1099-R reporting the distribution.  Answer the follow-up questions to indicate how much of the distribution was RMD.  The Form 1099-R reporting your 403(b) distribution will have the gross amount in box 1, the taxable amount in box 2a, any after-tax amount in box 5 and code 7 in box 7.

Distributions from retirement accounts are not treated as investment income.  They are not included in Part I of Form 8960.

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