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linda53
April 11, 2020
Question

Lump sum retirement payment from State of AZ

  • April 11, 2020
  • 1 reply
  • 0 views

My husband received a lump-sum retirement payment from the Arizona State Retirement System in the year he retired.  How do we answer "did he take an RMD" amount?   He got one single full payment.

    1 reply

    D
    DianeC958
    April 11, 2020

    You answer Yes, he did take an RMD amount.

     

    TurboTax asks about the RMD amount to see if there may be a penalty due for not taking the full amount for an RMD, since he took a lump-sum payment, there is no penalty due.

     

    What is an RMD?

     

    @linda53

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