topic On entering 1099-R I have a non-qualified annuity. It is not a pension. Turbo Tax incorrectly says I must have an RMD for it. Why is it saying that? in Retirement tax questions

On entering 1099-R I have a non-qualified annuity. It is not a pension. Turbo Tax incorrectly says I must have an RMD for it. Why is it saying that?

relouks — Wed, 05 Jun 2019 02:14:22 GMT

You can't always change certain questions once they've be...

AmandaR1 — Wed, 05 Jun 2019 02:14:25 GMT

You can't always change certain questions once they've been answered (because so many situations are accounted for on this form). I'd recommend deleting and re-entering. I'll include instructions below.

You're correct Non-qualified annuities are not subject to...

AmandaR1 — Wed, 05 Jun 2019 02:14:26 GMT

You're correct Non-qualified annuities are not subject to Required Minimum Distributions (RMD).

You need to go back in, delete your 1099-R entry and re-enter it. When you re-enter it, answer the questions that follow carefully and then continue out of the section and answer additional questions there too.

Open your return. (In Online: Login and click Take me to my return)
Click on the Federal or Personal Tax tab (In Online: under 2017 Taxes, select the Federal)
Select the Personal/Federal Income tab, below
Scroll down to Retirement Plans and Social Security section
Click Update or Revisit next to IRA, 401(k), Pension Plans (1099-R)
You'll be at a listing of the 1099-Rs you've entered. click Delete to remove your prior entry.
Click Add Another 1099-R or begin entering your form again.
Answer the questions that follow carefully.
***When you've finished entering your form and are back at the summary screen of Form 1099-Rs, be sure to click CONTINUE. In some cases, this is where you'll be asked additional relevant questions.

I have a similar situation this year, except it's an inhe...

cheitzig — Wed, 05 Jun 2019 02:14:28 GMT

I have a similar situation this year, except it's an inherited non-qualified annuity. Last year was the end of the five-year rule, so we needed to take the remainder of the money out by Dec 31, 2018, which we did. But TurboTax is asking me about RMD's... which is inappropriate / not applicable to an inherited non-qualified annuity. I've checked my answers multiple times. Further, entering either yes, this is an RMD or not doesn't seem to change the tax. Do you have any thoughts?