topic I also, have another question regarding HSA.&nbsp;&nbsp;My employer... in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/i-also-have-another-question-regarding-hsa-my-employer/01/358435#M31630 I also, have another question regarding HSA.&nbsp;&nbsp;My employer went to a HD insurance plan and mandated that all employees had to open an HSA Account, only to later rescind that if an employee had signed up for Medicare, which I had when I became eligible.&nbsp;&nbsp;I contributed $800 to the HSA account and later closed it and was refunded my payroll deposit of $800.&nbsp;&nbsp;Is this going to result in a penalty. Mon, 03 Jun 2019 20:55:07 GMT dliaufwb 2019-06-03T20:55:07Z Retired before age 70 1/2 from public retirement system. TT is asking if the distribution is an RMD. How should I respond to this question? https://ttlc.intuit.com/community/retirement/discussion/retired-before-age-70-1-2-from-public-retirement-system-tt-is-asking-if-the-distribution-is-an-rmd/01/358406#M31620 <P>Both my husband and I retired before age 70 1/2 and began receiving monthly pension benefit payments.&nbsp; <BR /></P> Mon, 03 Jun 2019 20:55:03 GMT https://ttlc.intuit.com/community/retirement/discussion/retired-before-age-70-1-2-from-public-retirement-system-tt-is-asking-if-the-distribution-is-an-rmd/01/358406#M31620 dliaufwb 2019-06-03T20:55:03Z What is your age at the end of 2018? https://ttlc.intuit.com/community/retirement/discussion/what-is-your-age-at-the-end-of-2018/01/358412#M31623 What is your age at the end of 2018? Mon, 03 Jun 2019 20:55:04 GMT https://ttlc.intuit.com/community/retirement/discussion/what-is-your-age-at-the-end-of-2018/01/358412#M31623 Coleen3 2019-06-03T20:55:04Z I was 70, my husband was 71 at the end of 2018 , but he r... https://ttlc.intuit.com/community/retirement/discussion/i-was-70-my-husband-was-71-at-the-end-of-2018-but-he-r/01/358422#M31626 I was 70, my husband was 71 at the end of 2018 , but he retired in 2007. Mon, 03 Jun 2019 20:55:05 GMT https://ttlc.intuit.com/community/retirement/discussion/i-was-70-my-husband-was-71-at-the-end-of-2018-but-he-r/01/358422#M31626 dliaufwb 2019-06-03T20:55:05Z I retired September 1, 2018 https://ttlc.intuit.com/community/retirement/discussion/i-retired-september-1-2018/01/358430#M31628 I retired September 1, 2018 Mon, 03 Jun 2019 20:55:06 GMT https://ttlc.intuit.com/community/retirement/discussion/i-retired-september-1-2018/01/358430#M31628 dliaufwb 2019-06-03T20:55:06Z I also, have another question regarding HSA.  My employer... https://ttlc.intuit.com/community/retirement/discussion/i-also-have-another-question-regarding-hsa-my-employer/01/358435#M31630 I also, have another question regarding HSA.&nbsp;&nbsp;My employer went to a HD insurance plan and mandated that all employees had to open an HSA Account, only to later rescind that if an employee had signed up for Medicare, which I had when I became eligible.&nbsp;&nbsp;I contributed $800 to the HSA account and later closed it and was refunded my payroll deposit of $800.&nbsp;&nbsp;Is this going to result in a penalty. Mon, 03 Jun 2019 20:55:07 GMT https://ttlc.intuit.com/community/retirement/discussion/i-also-have-another-question-regarding-hsa-my-employer/01/358435#M31630 dliaufwb 2019-06-03T20:55:07Z No, you took the money out in a timely basis. https://ttlc.intuit.com/community/retirement/discussion/no-you-took-the-money-out-in-a-timely-basis/01/358441#M31632 No, you took the money out in a timely basis. Mon, 03 Jun 2019 20:55:08 GMT https://ttlc.intuit.com/community/retirement/discussion/no-you-took-the-money-out-in-a-timely-basis/01/358441#M31632 Coleen3 2019-06-03T20:55:08Z If you are 70 1/2 it will ask you if it is the RMD.  Say... https://ttlc.intuit.com/community/retirement/discussion/if-you-are-70-1-2-it-will-ask-you-if-it-is-the-rmd-say/01/358466#M31638 If you are 70 1/2 it will ask you if it is the RMD.&nbsp;&nbsp;Say yes.&nbsp;&nbsp;Anything your pension pays you is considered to be the&nbsp;&nbsp;RMD. Mon, 03 Jun 2019 20:55:09 GMT https://ttlc.intuit.com/community/retirement/discussion/if-you-are-70-1-2-it-will-ask-you-if-it-is-the-rmd-say/01/358466#M31638 VolvoGirl 2019-06-03T20:55:09Z Neither is an RMD for 2018. RMDs are required once you re... https://ttlc.intuit.com/community/retirement/discussion/neither-is-an-rmd-for-2018-rmds-are-required-once-you-re/01/358478#M31641 <P>Neither is an RMD for 2018.</P><P>RMDs are required once you reach age 70 1/2. The distribution is not considered one until then.<BR /></P><P></P><P>RMD stands for Required Minimum Distribution. It's the minimum amount of money you're required to take out of your retirement plan <B>once you turn 70 1/2.</B></P> <P>RMD rules apply to all employer-sponsored retirement plans such as pensions, profit-sharing, 401(k), 403(b), and 457(b) plans, as well as Traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs. However, RMDs are not required for Roth IRAs while the owner is still alive.</P> <P> <I>Your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least 70 1/2 years young, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.</I> </P><BR /><P></P> Mon, 03 Jun 2019 20:55:13 GMT https://ttlc.intuit.com/community/retirement/discussion/neither-is-an-rmd-for-2018-rmds-are-required-once-you-re/01/358478#M31641 Coleen3 2019-06-03T20:55:13Z
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topic I also, have another question regarding HSA.&nbsp;&nbsp;My employer... in Retirement tax questions
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I also, have another question regarding HSA.&nbsp;&nbsp;My employer went to a HD insurance plan and mandated that all employees had to open an HSA Account, only to later rescind that if an employee had signed up for Medicare, which I had when I became eligible.&nbsp;&nbsp;I contributed $800 to the HSA account and later closed it and was refunded my payroll deposit of $800.&nbsp;&nbsp;Is this going to result in a penalty.
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Retired before age 70 1/2 from public retirement system. TT is asking if the distribution is an RMD. How should I respond to this question?
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<P>Both my husband and I retired before age 70 1/2 and began receiving monthly pension benefit payments.&nbsp; <BR /></P>
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I was 70, my husband was 71 at the end of 2018 , but he r...
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I was 70, my husband was 71 at the end of 2018 , but he retired in 2007.
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<title>I retired September 1, 2018</title>
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<description>I retired September 1, 2018</description>
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I also, have another question regarding HSA.  My employer...
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https://ttlc.intuit.com/community/retirement/discussion/i-also-have-another-question-regarding-hsa-my-employer/01/358435#M31630
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I also, have another question regarding HSA.&nbsp;&nbsp;My employer went to a HD insurance plan and mandated that all employees had to open an HSA Account, only to later rescind that if an employee had signed up for Medicare, which I had when I became eligible.&nbsp;&nbsp;I contributed $800 to the HSA account and later closed it and was refunded my payroll deposit of $800.&nbsp;&nbsp;Is this going to result in a penalty.
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<title>No, you took the money out in a timely basis.</title>
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<description>No, you took the money out in a timely basis.</description>
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If you are 70 1/2 it will ask you if it is the RMD.  Say...
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If you are 70 1/2 it will ask you if it is the RMD.&nbsp;&nbsp;Say yes.&nbsp;&nbsp;Anything your pension pays you is considered to be the&nbsp;&nbsp;RMD.
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Neither is an RMD for 2018. RMDs are required once you re...
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https://ttlc.intuit.com/community/retirement/discussion/neither-is-an-rmd-for-2018-rmds-are-required-once-you-re/01/358478#M31641
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<P>Neither is an RMD for 2018.</P><P>RMDs are required once you reach age 70 1/2. The distribution is not considered one until then.<BR /></P><P></P><P>RMD stands for Required Minimum Distribution. It's the minimum amount of money you're required to take out of your retirement plan <B>once you turn 70 1/2.</B></P> <P>RMD rules apply to all employer-sponsored retirement plans such as pensions, profit-sharing, 401(k), 403(b), and 457(b) plans, as well as Traditional IRAs and IRA-based plans such as SEPs, SARSEPs, and SIMPLE IRAs. However, RMDs are not required for Roth IRAs while the owner is still alive.</P> <P> <I>Your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least 70 1/2 years young, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.</I> </P><BR /><P></P>
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