Question

Pension distribution

Forum|Forum|5 years ago
January 29, 2021
1 reply
0 views

Why does TT think the distribution from the Teacher Retirement System of Texas is an IRA distribution? It wants to know how much of the distribution is a RMD? Am I missing something???

VolvoGirl

Yes that's right. Say all of it is the RMD. If you are 70 1/2 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.

M

mayfireadk

TT is asking me to enter an RMD amount for my NJ teacher's pension regular distribution. It is my understanding that it is automatically taken but I see no amount. From reading other answers the entire distribution is RMD. I also read that I should check box that says entire amount. There is no checkbox question, only a request for an amount. What amount do I enter?

RachelW33

You should enter the full amount from your Form 1099-R, Box 1 as your Required Minimum Distribution (RMD). As VolvoGirl mentioned, anything your pension pays you is considered to be the RMD.

@mayfireadk

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