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January 28, 2025
Question

rmd calculation error

  • January 28, 2025
  • 1 reply
  • 0 views

I have two IRA each with an RMD component. One IRA roundup the RMD amount and works fine. The other IRA has an RMD that rounds down. This RMD gets flagged when you view the form even though it processed OK like the other IRA when entering all the info.

 

The work around is that I have to manual adjust the RMD amount on the rounding down amount to get the red flag removed.  

 

It would appear that while the rounding down is correct, internally the process is not using this value in calculating if there was an over payment in the RMD amount.

 

I have a pdf showing the problem but cant find a way to share it  here.

 

 

 

 

 

 

 

 

 

 

    1 reply

    February 4, 2025

    Glad you found a workaround to the RMD rounding issue!

     

    You're not the only one experiencing this issue; here's more discussion on the RMD Rounding Issue. 

     

    The RMD issue is currently under Investigation, although we have no timeline at this point of  when it will be corrected.

     

     

    February 6, 2025

    I just downloaded the updates for Feb 5 and the problem has been resolved!

    February 6, 2025

    Problem remains for me, even after the 5 Feb update.