Inherited IRA from mother who died in 2013

Forum|Forum|1 year ago
February 2, 2025
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my mother died in 2013 at age 77. She was born in 1936. I have been taking more than the RMD in 2024.

When TURBO TAX asks me "was this withdrawal an MRD?" , how do I answer that? Yes or No ? If I answer Yes, TT wants to know how much of the amount was RMD, All of it, or part of it. Here, if I answer part of this distribution was RMD (since I assume part of it was, and the remaining amount was not) it then asks how much of the amount I received applies to the RMD. I do NOT know what amount is applied to RMD, but I'm sure I've taken more than is required. How do I determine the amount to enter? There are 5 different funds inside the account and I assume a portion of each meets the RMD requirement. How do I apply the correct RMD amount to each fund? I have a separate 1099-R info for each fund

AmyC

Employee

Answer yes, you took the full RMD because you did plus extra. The bank/ broker should have provided you with the RMD amount for 2024. If not, ask them.

The point of this exercise is to keep you from paying a penalty. All of this goes to worksheets behind the scenes that are not part of your return.

Any answer that gets you through this section without a penalty for not taking enough is a good answer.

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