topic Pension distribution in Retirement tax questions

Pension distribution

lawrence_duncan — Fri, 29 Jan 2021 04:06:36 GMT

Why does TT think the distribution from the Teacher Retirement System of Texas is an IRA distribution? It wants to know how much of the distribution is a RMD? Am I missing something???

Re: Pension distribution

VolvoGirl — Fri, 29 Jan 2021 04:08:11 GMT

Yes that's right. 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. Traditional pensions automatically fulfill the rules of an RMD.

Re: Pension distribution

mayfireadk — Fri, 04 Apr 2025 23:43:48 GMT

TT is asking me to enter an RMD amount for my NJ teacher's pension regular distribution. It is my understanding that it is automatically taken but I see no amount. From reading other answers the entire distribution is RMD. I also read that I should check box that says entire amount. There is no checkbox question, only a request for an amount. What amount do I enter?

Re: Pension distribution

RachelW33 — Sat, 05 Apr 2025 23:46:16 GMT

You should enter the full amount from your Form 1099-R, Box 1 as your Required Minimum Distribution (RMD). As VolvoGirl mentioned, anything your pension pays you is considered to be the RMD.

@mayfireadk

Re: Pension distribution

mayfireadk — Sun, 06 Apr 2025 00:27:42 GMT

Thanks. I did a little digging and discovered that TT and the IRS, I guess, considers your entire pension distribution for the year to be an RMD. It would be good if TT would explain that somewhere in the process. This year is the first time we've seen it.