How do I report in Turbo Tax that I took RMDs from one retirement account to cover all retirement accounts?

Forum|Forum|6 years ago
June 6, 2019
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I have 3 retirement accounts and must take RMDs. One is an annuity. I took extra distributions from my traditional IRA to cover the RMD for the annuity. I've read the IRS pub on IRAs. I think it says I can do that. But because I took no distributions, I have no 1099-R for the annuity. How do I show in TT that I have met my tax obligation for all retirement accounts including the annuity?

TurboTax Premier Windows

dmertz

Employee

Your tax return does not report anything that specifically associates your distributions with RMDs. There is no need to indicate that any particular IRA's RMD was satisfied from any particular source. Your tax return simply shows on Form 1040 line 15a (or 15b if the entire amount is taxable) or Form 1040A line 16a (or 16b if the entire amount is taxable) the total of your distributions.

I assume that you annuity is an IRA deferred annuity. Yes, provided that your IRA annuity had a 2015 year-end balance (was not annuitized) you can aggregate the RMDs separately calculated for each of your traditional IRAs, including the IRA annuity, and take distributions from the IRAs in any combination to satisfy the aggregate IRA RMD.