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April 3, 2025
Question

I took my RMD in November of 2024. Why am I being penalized for not taking it out. How do I correct things?

  • April 3, 2025
  • 1 reply
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1 reply

fanfare
Employee
April 4, 2025

to avoid wrongful penalty, for each 1099-R, tell TurboTax that the distributed amount is the calculated required amount.

OR

to avoid wrongful penalty, for each 1099-R, tell TurboTax that the calculated required amount is -0-..

 

@marylinestenson