RE 1099-R entry-withdrew fm 3 accts. After ea 1099-R entry TT asks for total amt RMD then won't do the math & implies deficiency & adds taxes due. Paid tax at time w/d.

Forum|Forum|1 year ago
January 23, 2025
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Total RMD pd in 2024; no deficiency; no IRS demand for deficiency; no "correction period" applies. TT still piles on taxes on alleged deficiency since it won't do the math & use total 1099-R distributions. When will this issue be fixed?

Best answer by VolvoGirl

For the RMD questions just enter the amount that’s on that one 1099R box 1 not the total RMD. It’s asking for each 1099R this year.

VolvoGirlAnswer

Employee

For the RMD questions just enter the amount that’s on that one 1099R box 1 not the total RMD. It’s asking for each 1099R this year.

LAS_123Author

It was very confusing because this is 1st time in 5 yrs of reporting RMD that TT Premier asked for total amount of RMD for any given "account" or tax year. It's never asked that question. Once I changed my entries to just amt in Box 1 of each 1099-R, then it did reduce tax owed with each changed entry. Thank you.