@jhurvi wrote:
This issue comes up every year. Most folks think that a pension payment does not require an RMD. But apparently it does, so why doesn't TT end this needless confusion by just giving us the information we need about how to fill out that box?
Most pensions DO require a RMD, but the computed pension amount that the payer sends you IS the RMD. Since the pension is automatically a RMD, there is probably no need for the question IF TurboTax knew that it was a pension, and not some other type of retirement plan with an identical 1099-R. So the question is asked to any one over age 72.
TurboTax does not know if it is a pension - only you know that.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
