1099r

[gm43]

Okay, once I add the info for my military pension and indicate that it is from a Qualfied Plan, I am at a loss as to answering the questions that follow - this is very confusing to me.  Is there someone who can walk me thru this?  

[macuser_22]

What question?

Is it a 1099-R or a CSA 1099-R they are very different and the proper 100-R type must be selected?

[gm43]

Was this withdrawal RMD for 2019?

[gm43]

Its a For 1099-R

[macuser_22]

Virtually all pension plans, defined contribution plans, and annuities in existence today fall under section 401 of the tax code.

Required minimum distributions for defined benefit plans and annuity contracts all require RMD's after age 70 1/2.  If you receive periodic (monthly) payments from any pension plan you can be assured that the custodian of the plan is meeting the requirements so you can safely answer "yes" to the question.

The rules that the plan administrator must use to calculate the RMD as required by §401(a)(9) are defined in § 1.401(a)(9)-6) of the Internal Revenue Code (IRC).

The answer to the question does not go on your tax return, it is simply to make sure you do not owe any penalty for not taking the RMD or use it for an ineligible rollover.

The question is just to be sure that the requirement was met.

https://ttlc.intuit.com/replies/3302117

[VolvoGirl]

Say all of it is the RMD.  If you are 70 1/2 it will ask you if it is the RMD.  Say yes.  Anything your pension pays you is considered to be the  RMD.

[gm43]

Okay then it asks if periodic payments were received.  He receives this in monthly payments and when I say yes to this then I get all kinds of questions as to when he started getting these monthly payments, taxable amounts, the method used, etc.  I'm confused!

[macuser_22]

Generally the box 2a (or box 1 if 2a is blank) is the taxable amount unless part of the distribution is from after-tax contributions (that might be in box 5 or box 9).    Unless this is the *first* year of receiving pension payments then you use the same method that was used in 2018.

If this is the first year and there is after-tax money in the account that should not be taxed again so the simplified method should be used to reduce the tax. Use your own records for the after tax money or get it from the plan administrator (if the administrator kept track).