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April 3, 2025
Question

RMD & QCD

  • April 3, 2025
  • 1 reply
  • 0 views

RMD - $76,000

QCD - $10,000

1099R - $66,000

I input the above amounts in the requested fields in Turbo Tax but I am getting an error message saying that I am $10,000 short on my RMD and getting hit with a penalty. 

    1 reply

    VolvoGirl
    Employee
    April 3, 2025

    What line is the 66,000 on in the 1099R?   Line 1 should be the full 76,000.   And probably line 2a also.  

    MK481Author
    April 3, 2025

    Both are $66,000, appears I need to contact Schwab. Thanks!

    VolvoGirl
    Employee
    April 3, 2025

    Did you get a separate 1099R for the QCD?