Question
Next year's Required Minimum Distribution Included in Estimates?
Does Turbotax take into account the RMD for an IRA for the next tax year when calculating estimated tax payments? I keep owing taxes every year getting estimates that are too low and I think this may be part of the issue. It asks to see if I have met this year's RMD or else I'd be penalized.
I think Turbotax should ask about this and, based on a person's age and IRA value, calculate the RMD for the next tax year and add this to calculations for estimated tax payment amounts.
