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March 22, 2023
Question

If Box 5 does not indicate RMD, does that mean it is not money for RMD?

  • March 22, 2023
  • 2 replies
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Is the amount in Box 5 for RMD?

2 replies

VolvoGirl
Employee
March 22, 2023

Box 5 where?  On the 1099R or on the 1040?  The 1099R doesn't indicate if it is an RMD.  Neither on your 1040.


 1099R box 5 is employee contributions or Designated Roth Contributions or Insurance Premiums

March 22, 2023

If you are 70 and ½ and  older, TurboTax will ask several questions when entering your 1099-R information and will help you determine if you have met the RMD criteria so that you can avoid the IRS penalty.

 

 Your 1099-R issuer is required to follow RMD rules and regulations, so if you received a distribution and you're at least 72 years young, you can be almost certain you received an RMD. Check with your plan administrator if you're still not sure.

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