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Question

TD Ameritrade said I needed to take money from my investment account. They sent me the money. Does that mean interest?

Forum|Forum|3 years ago
February 11, 2023
2 replies
0 views

$6,556.00 was sent to me.

TurboTax Live Deluxe Online

It depends. Do you have an Individual Retirement Account or other retirement account and need to take a Required Minimum Distribution? See this help article for more information on RMD's.

If so, you should receive a Form 1099-R from the company which you will enter in TurboTax under Wages and Income, Retirement Plans and Social Security. See here for more information.

Contact the company if you didn't receive Form 1099-R or another tax form, or for an explanation of what the amount distributed represents.

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the only time you would be told you must take money from an account is that it's a retirement account and a distribution must be taken to avoid severe penalties. check with TD.

Employee

TD and all the others won't distribute from IRA unless you explicitly ask for it.

you might call TD client support if you don't understand why that money was sent to you.