topic Did you take the funds before you turned age 70.5? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/did-you-take-the-funds-before-you-turned-age-70-5/01/208581#M18016 Did you take the funds before you turned age 70.5? Sat, 01 Jun 2019 18:03:52 GMT SweetieJean 2019-06-01T18:03:52Z I am 70 and I pulled money out of my IRA. What are the ramifications of clicking "yes" for RMD, even though it wasn't?? https://ttlc.intuit.com/community/retirement/discussion/i-am-70-and-i-pulled-money-out-of-my-ira-what-are-the-ramifications-of-clicking-yes-for-rmd-even/01/208574#M18014 Sat, 01 Jun 2019 18:03:50 GMT https://ttlc.intuit.com/community/retirement/discussion/i-am-70-and-i-pulled-money-out-of-my-ira-what-are-the-ramifications-of-clicking-yes-for-rmd-even/01/208574#M18014 checkersmb 2019-06-01T18:03:50Z Did you take the funds before you turned age 70.5? https://ttlc.intuit.com/community/retirement/discussion/did-you-take-the-funds-before-you-turned-age-70-5/01/208581#M18016 Did you take the funds before you turned age 70.5? Sat, 01 Jun 2019 18:03:52 GMT https://ttlc.intuit.com/community/retirement/discussion/did-you-take-the-funds-before-you-turned-age-70-5/01/208581#M18016 SweetieJean 2019-06-01T18:03:52Z With regard to the question asked, it doesn't matter.  Si... https://ttlc.intuit.com/community/retirement/discussion/with-regard-to-the-question-asked-it-doesn-t-matter-si/01/208584#M18017 With regard to the question asked, it doesn't matter.&nbsp;&nbsp;Since TurboTax is asking how much was RMD, TurboTax knows that this individual reached age 70½ in 2018.&nbsp;&nbsp;Any distribution in 2018 is therefore RMD until the RMD is satisfied.&nbsp;&nbsp;(No mention was made of this being intended as a QCD which would require the individual to actually have reached age 70½). Sat, 01 Jun 2019 18:03:52 GMT https://ttlc.intuit.com/community/retirement/discussion/with-regard-to-the-question-asked-it-doesn-t-matter-si/01/208584#M18017 dmertz 2019-06-01T18:03:52Z I was thinking of QCD. https://ttlc.intuit.com/community/retirement/discussion/i-was-thinking-of-qcd/01/208593#M18019 I was thinking of QCD. Sat, 01 Jun 2019 18:03:54 GMT https://ttlc.intuit.com/community/retirement/discussion/i-was-thinking-of-qcd/01/208593#M18019 SweetieJean 2019-06-01T18:03:54Z Essentially none.  TurboTax simply treats the amount that... https://ttlc.intuit.com/community/retirement/discussion/essentially-none-turbotax-simply-treats-the-amount-that/01/208600#M18021 <P>Essentially none.&nbsp; TurboTax simply treats the amount that you indicate as RMD as an amount not eligible for rollover.&nbsp; Since you did not roll any of the distribution over, it doesn't matter how you answer this question.</P> Sat, 01 Jun 2019 18:03:55 GMT https://ttlc.intuit.com/community/retirement/discussion/essentially-none-turbotax-simply-treats-the-amount-that/01/208600#M18021 dmertz 2019-06-01T18:03:55Z
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topic Did you take the funds before you turned age 70.5? in Retirement tax questions
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I am 70 and I pulled money out of my IRA. What are the ramifications of clicking "yes" for RMD, even though it wasn't??
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https://ttlc.intuit.com/community/retirement/discussion/i-am-70-and-i-pulled-money-out-of-my-ira-what-are-the-ramifications-of-clicking-yes-for-rmd-even/01/208574#M18014
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With regard to the question asked, it doesn't matter.  Si...
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With regard to the question asked, it doesn't matter.&nbsp;&nbsp;Since TurboTax is asking how much was RMD, TurboTax knows that this individual reached age 70½ in 2018.&nbsp;&nbsp;Any distribution in 2018 is therefore RMD until the RMD is satisfied.&nbsp;&nbsp;(No mention was made of this being intended as a QCD which would require the individual to actually have reached age 70½).
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<pubDate>Sat, 01 Jun 2019 18:03:52 GMT</pubDate>
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<dc:creator>dmertz</dc:creator>
<dc:date>2019-06-01T18:03:52Z</dc:date>
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<title>I was thinking of QCD.</title>
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https://ttlc.intuit.com/community/retirement/discussion/i-was-thinking-of-qcd/01/208593#M18019
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<description>I was thinking of QCD.</description>
<pubDate>Sat, 01 Jun 2019 18:03:54 GMT</pubDate>
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<dc:creator>SweetieJean</dc:creator>
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Essentially none.  TurboTax simply treats the amount that...
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https://ttlc.intuit.com/community/retirement/discussion/essentially-none-turbotax-simply-treats-the-amount-that/01/208600#M18021
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<P>Essentially none.&nbsp; TurboTax simply treats the amount that you indicate as RMD as an amount not eligible for rollover.&nbsp; Since you did not roll any of the distribution over, it doesn't matter how you answer this question.</P>
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<pubDate>Sat, 01 Jun 2019 18:03:55 GMT</pubDate>
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https://ttlc.intuit.com/community/retirement/discussion/essentially-none-turbotax-simply-treats-the-amount-that/01/208600#M18021
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