I am retired from the educational system in Al. and i draw a check monthly. It is not an IRA or 401k, etc. How do I list it. I don't understand RMD

Forum|Forum|7 years ago
June 1, 2019
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Anonymous

Technically, any monthly pension payment is considered a Required Minimum Distribution (RMD) and the entire amount is an RMD. That is how you need to answer the questions.

This post provides the necessary guidance to answer those questions for a pension distribution:

"First, please be sure that the IRA box is not checked in your data entry.

All retirement accounts, even pensions, must meet the RMD requirements.

However, the way the pension plans meet the RMD requirements is by creating an annuity paid periodically (in your case monthly. Therefore, you may simply select "yes" to the RMD 1st question. You will also be asked if the amount reported is paid periodically in equal amounts. By selecting "yes" the RMD requirements are met and you may continue with the tax preparation."

Answered by TurboTaxMargaretL to this question