RMD Withdrawal

Forum|Forum|1 year ago
January 25, 2025
1 reply
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I have 3 IRA accounts, and I'm subject to RMD. In 2024, I took withdrawals from all 3 IRA accounts, but I took out more than the RMD minimum, by about $9K.

In TTAX, I reported that the entire w/d from 2 of those accounts was the RMD amount, but what number do I use for the w/d in the 3rd account, from which the amount that I took put the sum of the w/d's over the RMD?

Do I just report as if the 3rd amount is entirely RMD anyway?

Or do I input the amount that brings the sum of the 3 w/d to the RMD amount?

AmyC

Employee

Yes, if you take the minimum distribution between all accounts, just answer that each account has RMD. The program is looking for when too little was taken to calculate a penalty. Since yours was all accounted for, just say yes and enter whatever you need to avoid a penalty.

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