topic What does it mean by cashing out the money in my retirement account? I put my annuity payments in the bank each month and pay bills? Is that what it means by cashing it out? I put in cashing it out because didn't roll it over but then I just got reques in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/what-does-it-mean-by-cashing-out-the-money-in-my-retirement-account-i-put-my-annuity-payments-in-the/01/664786#M63297 Thu, 06 Jun 2019 09:53:04 GMT dkohler52 2019-06-06T09:53:04Z What does it mean by cashing out the money in my retirement account? I put my annuity payments in the bank each month and pay bills? Is that what it means by cashing it out? I put in cashing it out because didn't roll it over but then I just got reques https://ttlc.intuit.com/community/retirement/discussion/what-does-it-mean-by-cashing-out-the-money-in-my-retirement-account-i-put-my-annuity-payments-in-the/01/664786#M63297 Thu, 06 Jun 2019 09:53:04 GMT https://ttlc.intuit.com/community/retirement/discussion/what-does-it-mean-by-cashing-out-the-money-in-my-retirement-account-i-put-my-annuity-payments-in-the/01/664786#M63297 dkohler52 2019-06-06T09:53:04Z You are considered to have cashed out your annuity paymen... https://ttlc.intuit.com/community/retirement/discussion/you-are-considered-to-have-cashed-out-your-annuity-paymen/01/664790#M63299 You are considered to have cashed out your annuity payments. You did not roll them over.<BR /><BR />RMD is required for all retirement accounts.&nbsp;&nbsp;That is why Turbo Tax has to ask the question.&nbsp;&nbsp;For pensions, if it is a qualified plan, the RMD requirement is met because you are receiving periodic payments.&nbsp;&nbsp;However, if you have the ability to control the payments amount, then you must calculate the proper RMD amount to withdraw.<BR /><BR />If you are receiving a pension and cannot change the monthly amount, respond yes that you have taken your RMD for this retirement account. Thu, 06 Jun 2019 09:53:05 GMT https://ttlc.intuit.com/community/retirement/discussion/you-are-considered-to-have-cashed-out-your-annuity-paymen/01/664790#M63299 Fern 2019-06-06T09:53:05Z