Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
M
mlitebeer133641
April 18, 2021
Question

My father in law got a dispersement from pacific life insurance because he turned 100 & had to take the $$$ so he wouldn’t lose it—- my question is this a RMD?

  • April 18, 2021
  • 1 reply
  • 0 views
How do I answer the question is a payment an rmd?the money is from a life insurance policy.

1 reply

ColeenD3
ColeenD3
April 18, 2021

Is it an annuity?  A distribution from a straight life insurance policy is not subject to RMD. An RMD would have had to have been taken each years since he turned 70 and a half, if it were a retirement account.

TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification