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February 22, 2025
Question

In the IRA contributions results, it shows a "Tax on excess accumulations in retirement" of $1822. What does this mean?

  • February 22, 2025
  • 1 reply
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What does Tax on excess accumulations in retirement mean?

    1 reply

    VolvoGirl
    Employee
    February 22, 2025

    It means you have a penalty for not taking the full RMD.   Go back and check your 1099R entries.  There just was an update on 2/20/25 that fixed the RMD problems.