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March 1, 2025
Question

Schedule 2 has a tax amount on line 8. I did not have this last year so I need to know what is it and how was is it calculated

  • March 1, 2025
  • 1 reply
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tax on line 8 is $5,304 where did it come from

    1 reply

    SteamTrain
    Employee
    March 1, 2025

    The tax software apparently thinks you didn't take the RMD amounts form all your pension, 401k, and IRA distributions.  (All 1099-R forms once you reach age 73 have an RMD...even if a fixed pension).

     

    Lots of confusion over it this year due to the way TTX has been asking follow-up questions.

    Edit every 1099-R you received

     

    Yes. flat pensions have an RMD...indicate all of it is the RMD and you don't have to calculate it....the amount was pre-determined.

     

    IRA's can apparently get more difficult if you have multiple 1099-R forms for actual IRAs...or if you did some form of rollover during the year for one or more of them.   If you are sure you took the proper RMD from your IRAs, (and didn't do any rollovers...and didn't do any QCD distributions) just indicate the amount distributed was all an RMD.

     

    If more complex than that, then it depends on the situation, and someone else may need to take over.

     

    ____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*