Question
I'm trying to confirm if "nonqualified annuities" have a required minimum distribution calculated or if the distribution is what it is?
When I was entering two separate 1099-Rs for annuity payments, I entered the distribution amount as the RMD when turbo tax screen asked if the account was subject to RMD. I think I should have indicated no amount instead. Entering the distribution amount increased the FED tax owed. If I back this out, the FED tax amount drops.
Thanks.
