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IRA RMD Distribution

Forum|Forum|4 years ago
January 26, 2022
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I am using TurboTax online for my 2021 tax return. I have manually entered our IRA Required Minimum Distribution (RMD) from the 1099-R provided by our investment company. After I have entered all the required data, I get to a screen that asks how much of the distribution was RMD (all of it, part of it, or none of it). Since the distribution is all RMD, that is the box that I checked. After I finished entering all the information for all our IRA distributions, I went back to review my entries, and found that all the boxes I checked as being "all RMD" have been UNchecked. I have talked to more than a few people at TurboTax Support, and have not found anyone who knows why the box is getting UNchecked, or how to fix it. Has anyone else had this issue? Thanks!

TurboTax Self Employed Online

Best answer by DaveF1006

It depends. While it appears that boxes are checked when you reviewed your return, the real test is if you were taxed for the RMD. You can verify this by going here in your online account.

Tax tools
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View tax summary
Preview my 1040 on the left pane of your page.
Look at line 23 on your 1040. If there is no amount listed there, then your RMD information is correctly reported. However if there is an amount, then it wasn't correctly applied.
If you are using the software, you can go to the forms mode in your software to verify if there is an amount on Line 23 of the 1040.

I created a scenario in my own Turbo Tax test program and discovered the checkmarks were removed but the RMD information was correctly applied. I have no answer why this happens but what is important is the fact that you did correctly report your RMD and it was correctly reported in your return.

DaveF1006Answer

It depends. While it appears that boxes are checked when you reviewed your return, the real test is if you were taxed for the RMD. You can verify this by going here in your online account.

Tax tools
Tools
View tax summary
Preview my 1040 on the left pane of your page.
Look at line 23 on your 1040. If there is no amount listed there, then your RMD information is correctly reported. However if there is an amount, then it wasn't correctly applied.
If you are using the software, you can go to the forms mode in your software to verify if there is an amount on Line 23 of the 1040.

I created a scenario in my own Turbo Tax test program and discovered the checkmarks were removed but the RMD information was correctly applied. I have no answer why this happens but what is important is the fact that you did correctly report your RMD and it was correctly reported in your return.

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R

rlg4Author

Thanks for your response! Sorry, but I had to put this aside for a few days; hope you are still out there for follow-up.

As to item #5 of your reply, I looked at line 23 of my 1040 (1040-SR), and that line is for Self Employed Tax. And there is a small amount there, which is about the right amount for my part-time Self Employed Tax. Should I be looking at a different line?

By the way, I am using TurboTax online.

Thanks!

rlg4