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V
vicser
February 11, 2024
Question

If OPM 1099-R is an annuity and does not take out RMDs, what do I mark on turbotax when is asks me who much was an RMD?

  • February 11, 2024
  • 1 reply
  • 0 views
I'm a retired government civil service employee and my required minimum distribution from Thrift Savings Plan was directly deposited into my bank account.

1 reply

D
DavidD66
February 11, 2024

When a retirement account is converted to a series guaranteed payments (annuitized) it is not subject to RMDs.  Additionally, when an annuity in an IRA or 401k is annuitized, the value of the annuity is no longer included in future RMD calculations.  You can answer $0.00, or you can answer the total amount of the distribution, or anything in between.  It won't affect your tax return either way.  

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