My wife gets a monthly retirement check from the state of NM. She is 74 and turbo tax is asking if the entire amount was an RMD or only Part or None. Is it all?

Forum|Forum|1 year ago
January 29, 2025
3 replies
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There is not a fund that she draws from like an IRA, it's just a monthly check.

Best answer by VolvoGirl

Say all of it is the RMD. If you need to start taking the RMD it will ask you if it is the RMD. Say yes. Anything your pension pays you is considered to be the RMD. Traditional pensions automatically fulfill the rules of an RMD. So for the RMD question put in the same amount as box 1.

VolvoGirlAnswer

Employee

rrsheriff1Author

Are RMD's taxed as ordinary income?

DoninGA

Employee

@rrsheriff1 wrote:

Are RMD's taxed as ordinary income?

Yes.

xmasbaby0

Employee

When it is a monthly amount from a pension, you say it was ALL an RMD.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

DoninGA

Employee

Enter the amount received as shown in box 1 of the Form 1099-R as the RMD. All of pension income is an RMD.