RMD

0531 — Tue, 18 Feb 2020 15:55:07 GMT

I entered my information for my OPM pension (Form 1099-R) into Turbotax for pensions. On my 1099-R, Block 9b contains the "Total Employee Contributions." As my 1099-R had information in that block, I entered it into that block in Turbotax. The next screen that appeared dealt with RMD. Because I am over 70.5 years old, one of the questions was "Was this withdrawal and RMD for 2019?" My monthly OPM pension payment has nothing to do with an IRA or an account that involves RMDs, so I do not understand why Turbotax is asking this question. It wants either a "Yes, some or all of this withdrawal was an RMD" or "No. none of this withdrawal was an RMD. (This is not common.)" Neither of these answers should apply. I have checked the entire entry to see if perhaps I entered (or failed) to enter something that would cause this issue to surface, but cannot find anything to explain it. How do I deal with this as I am pretty sure that Turbotax will not allow me to not check one of these two boxes?

Re: RMD

macuser_22 — Tue, 18 Feb 2020 16:23:29 GMT

Virtually all pension plans, defined contribution plans, and annuities in existence today fall under section 401 of the tax code.

Required minimum distributions for defined benefit plans and annuity contracts all require RMD's after age 70 1/2. If you receive periodic (monthly) payments from any pension plan you can be assured that the custodian of the plan is meeting the requirements so you can safely answer "yes" to the question.

The rules that the plan administrator must use to calculate the RMD as required by §401(a)(9) are defined in § 1.401(a)(9)-6) of the Internal Revenue Code (IRC).

The answer to the question does not go on your tax return, it is simply to make sure you do not owe any penalty for not taking the RMD or use it for an ineligible rollover.

The question is just to be sure that the requirement was met.

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

topic RMD in Get your taxes done using TurboTax

RMD

Re: RMD