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Retirement

Compute required minimum distributions

To compute a required minimum distribution for the following tax year, perform the following steps.
  1. Enter data on the
    1099R
     screen in the
    T
    ,
    S
    ,
    Payer’s name,
     and
    Account number
     fields.
  2. Enter
    X
     in the
    Print Required Minimum Distribution Worksheet for this unit
     field on the
    1099R-3
     screen.
  3. Indicate which
    Type of plan
     the account is.
  4. Enter the
    Value on 12/31/22
     for the account.
  5. If the taxpayer/spouse is the original account owner, then answer the
    Is spouse the sole beneficiary of the account?
     question. Otherwise, input data on the type of
    Type of beneficiary
     the taxpayer/spouse is for the account, and the deceased original owner’s name, date of birth, and date of death.
    Depending on your client’s circumstances, the Worksheet for Owners or the Worksheet for Beneficiaries will calculate the RMD based on the data you enter.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual
  • Subject: Retirement
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