RMD Reporting

Forum|Forum|1 year ago
February 6, 2025
1 reply
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How do I enter the RMD amounts owed from multiple accounts if I pull all of the total amount from one account? Right now there is a note from Turbotax that they are still working on something. How long will it be before the 'fix' is available?

AmyC

Employee

1. You can take one withdrawal and cover all of your accounts. The IRS just wants to ensure you are taking the minimum out each year for all that you have.

When you enter the 1099-R, the program asks if you took the full RMD required or less, meaning across all accounts that you have.

If you took your full RMD from all accounts -Enter the 1099R value for amount taken. Enter a value less than or equal to the payment amount on the 1099-R on the RMD required screen.
If you did not take your full RMD, select no and enter the nontaxable amount.

This is not part of your tax return, this is the program trying to determine if a penalty needs to be calculated.

2. See Why am I getting an RMD distribution amount error?