topic My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all? in Retirement tax questions

My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all?

rrsheriff1 — Wed, 28 Jan 2026 06:16:33 GMT

There is not a fund that she draws from like an IRA, it's just a monthly check.

Re: My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all?

VolvoGirl — Wed, 29 Jan 2025 22:11:27 GMT

Say all of it is the RMD. If you need to start taking the RMD 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. So for the RMD question put in the same amount as box 1.

Re: My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all?

xmasbaby0 — Wed, 29 Jan 2025 22:11:46 GMT

When it is a monthly amount from a pension, you say it was ALL an RMD.

Re: My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all?

DoninGA — Wed, 29 Jan 2025 22:12:17 GMT

Enter the amount received as shown in box 1 of the Form 1099-R as the RMD. All of pension income is an RMD.

Re: My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all?

rrsheriff1 — Sat, 01 Feb 2025 23:04:14 GMT

Are RMD's taxed as ordinary income?

Re: My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all?

DoninGA — Sat, 01 Feb 2025 23:05:08 GMT

@rrsheriff1 wrote:

Are RMD's taxed as ordinary income?

Yes.

Re: My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all?

VolvoGirl — Sat, 01 Feb 2025 23:08:59 GMT

Usually RMD is taxable unless you made any non deductible contributions or made a Qualified Charitable Distribution. But a QCD is only for IRA RMD.