On my state tax return it askes if I had a previously taxed distribution. Is that the same as the RMD I'm retired to take out?

When your state tax return asks about a "previously taxed distribution," it generally refers to money withdrawn from a retirement account that was already taxed in a prior year, such as after-tax contributions or a distribution taxed by another state.

A Required Minimum Distribution (RMD), on the other hand, is the minimum amount you must withdraw annually from retirement accounts after reaching age 73. RMDs are typically taxable unless they include previously taxed amounts.

While an RMD can include previously taxed distributions, not all RMDs qualify as previously taxed. Review your tax documents, particularly Form 1099-R, to check if any portion of your RMD was already taxed.

Helpful Links

• RMD Information – IRS
• IRS FAQ Distributions