RMD on accounts

[stacyw47]

I have one IRA account.  I did the RMD for the IRA. ( 1099 R) 

I also have one pension account  - also a 1099 R - It is my  retirement plan  - I did not think I was supposed to,  but Turbo Tax is asking questions as if I did or should have done an RMD for this account. Why? 

[VolvoGirl]

For the Pension, just say YES it was the RMD.  Anything a pension pays is considered to be RMD.  

[Critter-3]

If you are taking monthly payments from the pension those ARE  RMD payments ... just say yes and move forward. 

[stacyw47]

Thank you - how do I know what the correct taxable amount is on the monthly payments or yearly pension? 

[VolvoGirl]

Unless you know otherwise or it's in box 2a, it's probably 100% taxable.  

[stacyw47]

Thank you for your answers so far. Moving on  for a schedule K-1 - what if the form I received for the K-1 has no numbers on it ( no boxes that are numbered) - just an a, b, and c.  Turbo tax is asking for answers in numbered boxes. 

[Critter-3]

Who issued the K-1 ?    

[stacyw47]

An insurance trust that contributions were made to. 

[Critter-3]

If you did not get a proper K-1 then you will enter the income info in the correct places in the program ...   Use this K-1 form  so you know what to enter where :   https://www.irs.gov/pub/irs-pdf/f1041sk1.pdf