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Father began collecting monthly annuity payment Jan 18. When entered info, was asked if an RMD- chose no, but says this is not common. Does this income go elsewhere?

Forum|Forum|7 years ago
June 3, 2019
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My father began collecting his monthly annuity payment in January 2018. When I entered the income, I was asked if it was an RMD - which it is not. I chose no, but it states that this is not common. Am I supposed to input this information somewhere else?

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Best answer by RachelW33

No, you should not input the Form 1099-R information somewhere else, you are in the right spot!

You should select "YES" to the RMD question and "YES" that it is paid periodically in equal payments.

Once a Taxpayer has reached the Age of 70 1/2, they are subject to the Required Minimum Distribution (RMD) rules. All retirement accounts, even pensions and annuities, must meet the RMD requirements. Pension plans meet the RMD requirements by creating an annuity that is paid periodically.

RachelW33Answer

No, you should not input the Form 1099-R information somewhere else, you are in the right spot!

You should select "YES" to the RMD question and "YES" that it is paid periodically in equal payments.

Once a Taxpayer has reached the Age of 70 1/2, they are subject to the Required Minimum Distribution (RMD) rules. All retirement accounts, even pensions and annuities, must meet the RMD requirements. Pension plans meet the RMD requirements by creating an annuity that is paid periodically.

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