I am entering into my tax form my info for my pension payment. I can't bypass the RMD question even though RMD does not apply to pension payments. Any help on this one?
I am entering into my tax form my info for my pension payment. I can't bypass the RMD question even though RMD does not apply to pension payments. Any help on this one?
When you enter a 1099R for a pension you just need to say it was all RMD. A pension meets the requirements for RMD.
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Required minimum distribution (RMD) is the minimum withdrawal you are required to take out of your IRA (including SEPs, SARSEPs, and SIMPLE IRAs) or employer-sponsored retirement plan (such as pension, profit-sharing, 401(k), 403(b), or 457(b) plan), starting at a certain age.
You may need to report the amount of the pension distribution as the RMD.