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February 1, 2025
Question

RMD

  • February 1, 2025
  • 1 reply
  • 0 views

I have 4 retirement accounts that require RMD.  From 3 of the accounts I withdrew more than the RMD requirements.  In the 4th I withdrew less than the required amount.  However, the excess from the other three exceeded the  amount  needed to make the 4th account meet the full requirement.  Shouldn't the excess from the first three negate the needed total from the 4th.  

    1 reply

    VolvoGirl
    Employee
    February 1, 2025

    Turbo Tax changed this year. When it asks about the RMD it is only asking for that one 1099R. You need to enter the amount in box 1 on that 1099R for the RMD, not the total RMD for all.