topic Re: RMD Annuity in Retirement tax questions

RMD Annuity

robi7 — Mon, 24 Feb 2025 20:47:39 GMT

My annuity was transferred from Co. A to Co. B in the middle of 2024.

Turbo tax asks if the annuity I received from Co. B is the FIRST TIME.

Should I answer NO because it is just a continuation of annuity from Co. A?

Re: RMD Annuity

JohnB5677 — Mon, 24 Feb 2025 20:59:25 GMT

Please clarify your question.

What form are you inputting from?
It doesn't sound like a 1099-R.
Are you entering this in the Retirement plans & Social Security section?

Please contact us again to provide some additional details.

Re: RMD Annuity

robi7 — Thu, 27 Feb 2025 03:41:20 GMT

Input form is 1099-R

Re: RMD Annuity

JohnB5677 — Thu, 27 Feb 2025 18:12:07 GMT

If you are entering a 1099-R from Company-A, and you are rolling it over to Company-B You should enter the information from the 1099-R exactly as it shows.

Under Federal

Wages & Income
Scroll to IRA, 401(k), Pension Plan Withdrawals (1099-R) [Add/Edit]
Did you get a 1099-R in 2024? [yes]
If you are adding a 1099-R [+ Add another 1099-R]
The steps are the same from here
[Change how I enter my form]
[Type it Myself]
If necessary chose a person [Continue]
Who gave you a 1099-R? Click box [Continue]
Post the 1099-R
Be sure to enter box 7 [continue]
Do you have info in Box 2a or Box 2b? Yes/No
Is the IRA/SEP/SIMPLE box on this 1099-R checked? Probably not
Where is your distribution from? Probably None of the above
This should be a Qualified Plan
Do any of these situations apply to you?
How much of the $XX,XXX was an RMD? None of this withdrawal was an RMD
Tell us if you moved the money through a rollover or conversion I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)
Did you roll over all of this $6,000.00 (Box 1) to another retirement account? Yes, I rolled over $6,000.00 to an IRA or other retirement account (or returned it to the same account).

Re: RMD Annuity

robi7 — Fri, 28 Feb 2025 20:17:06 GMT

this is not a rollover.

Co. A was acquired by Co. B

I checked with Co. B , and they said this is an RMD.