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Frankie2
February 16, 2020
Question

Federal Govt annuity treated as RMD?

  • February 16, 2020
  • 1 reply
  • 0 views

/Turbo Tax seems to want to treat my federal govt annuity as a RMD from a retirement account, like a 401K.  It isn't that at all, or is it??

    1 reply

    J
    JohnW152
    February 16, 2020

    Because of IRS requirements, the TurboTax program will ask you about RMDs, even though it may not apply to your government annuity distributions.

    When you meet the age threshold for taking an RMD because of the age requirements, and you're asked about taking an RMD from your annuity, the answer is "yes" that the withdrawal was an RMD, and that the whole distribution was an RMD.

    Please see the IRS' Retirement Plan and IRA Required Minimum Distributions FAQs page for more information.

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