topic Re: The Required Minimum Distribution (RMD) rule does apply t... in Retirement tax questions

How do I tell on 1099R if RMD taken out

sebarron — Sat, 01 Jun 2019 18:21:07 GMT

I have a small annuity from my deceased mother - I have no idea if there was an RMD withdrawal...how do I tell

The Required Minimum Distribution (RMD) rule does apply t...

MichaelMc — Sat, 01 Jun 2019 18:21:08 GMT

The Required Minimum Distribution (RMD) rule does apply to defined benefit plans, such as traditional employer-provided pensions.

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.

In the case of pensions and annuities, the RMD rules are taken into account by the plan administrator when periodic payments are calculated.

Your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least age 70 1/2, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.

I am only 63, I do not have a plan administrator. I don'...

sebarron — Sat, 01 Jun 2019 18:21:09 GMT

I am only 63, I do not have a plan administrator. I don't have anyone who knows what the amount was that was taken out or even if it was taken out. ON box 5 there is a small amount taken out that says: employee contributions designated ROTH or insurance. That is all I have.

Re: The Required Minimum Distribution (RMD) rule does apply t...

plegorby1942 — Fri, 14 Feb 2020 17:17:40 GMT

On my 1099-R the amounts in boxes 1 and 2a are the same. Box 2b has an x. Box 7 has a 7 and an x in IRA/SEP/SIMPLE. I was 70 in May, 2012, so I started receiving amounts in Dec. 2012 or Jan. 2013. I receive $556.28 each month or $6675.36 a year. Is this RDM? If yes, how do I determine how much the RDM is and how do I find the percent? I have used Turbo Tax Deluxe for probably 20 or more years, but this is the first time I remember having this trouble.

Re: The Required Minimum Distribution (RMD) rule does apply t...

plegorby1942 — Fri, 14 Feb 2020 17:22:42 GMT

Is a Turbo Tax expert going to reply here online or will I get an email directly to me?

Re: The Required Minimum Distribution (RMD) rule does apply t...

BillM223 — Fri, 14 Feb 2020 17:29:04 GMT

@plegorby1942

For IRAs, use this IRS worksheet to calculate the RMD for each IRA account you own.

Then you can determine if you withdrew enough each year to cover your required minimum distribution.