Reporting RMD does not allow for an option to add multiple 1099-Rs. What is the correct way to report RMD that comes form more that one fund?

Forum|Forum|1 year ago
February 6, 2025
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I report the entire distribution of each 1099-R as an RMD. I am then prompted for the total RMD. Turbotax shows what is remaining, but does not give me an option to say the remaining is on a separate fund. At a subsequent page turbotax says I owe a tax on excess accumulation in my retirement account.

Best answer by barnstable1010

I did this but it is still not calculating the total RMD correctly

VolvoGirl

Employee

Turbo Tax changed this year. When it asks about the RMD it is only asking for that one 1099R you are entering. You need to enter the amount from box 1 on that single 1099R for the RMD, not the total RMD for all and even if it is more or less than the total.

barnstable1010Answer

I did this but it is still not calculating the total RMD correctly

barnstable1010

This is happening to me as well and TurboTax is telling me not to file my taxes as they are working on it. It appears that it is a software problem but when is it going to be fixed?