rmd withdrawal issues

Forum|Forum|1 year ago
March 3, 2025
1 reply
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Having the same RMD issues as everone else. Have tried all the above work arounds and only one I found worked. Here's the link:

https://ttlc.intuit.com/community/retirement/discussion/multiple-ira-rmd-and-actually-distrib[product%20key%20removed]ts-are-not-properly-calculated/00/3462493

Good luck!

VolvoGirl

Employee

You need to go back through the 1099R entries and revisit all the answers. There was an update on Feb 20, 2025 that fixed the RMD problems. So if you have the Desktop program be sure to update it. The questions have changed so your prior answers won’t be right especially if you answered them with a work around to make them come out right. I would delete the 1099Rs and enter them again manually. That usually fixes it and resets the questions. Deleting has been fixing it for others.

bruce80Author

I tried deleting all 1099R's, updating software, and reentering all, several times, but still didn't work. The link I sent in my first post was the only fix that worked.

AmyC

Employee

For the box 7 code 4D - this worked for me today - I chose the 403b and it did ask about my inherited non-qualified annuity.. An inherited nonqualified annuity does not have RMD

Follow these steps:

Your 1099R should have box 7 with a code D for nonqualified annuity and code 4 for inherited. Let's go through the steps:

Open your return to the federal income
Select the 1099-R and edit
taxable amount -if box 2a has no amount or needs to be determined, the program will ask about cost basis. If 2a has a number and you select to use it, the program will not ask about the basis.
continue to Enter the form
No Public Safety Officer
Age of person - before of after Jan 1, 1952.
select no or yes
select 403b plan
RMD, enter zero
continue
@TerriLa

The program adds a penalty when you haven't taken the full RMD. The question is, did you take the full RMD?

If yes, return to the screen where you entered the form.
- RMD = distribution - You can mark the RMD is the same amount and all of it went to RMD, there is no penalty.
- If the RMD is less than what you took, enter the smaller RMD, enter that NOT all of it went to RMD but $XX = RMD did.
For example: $1000 distribution with a $600 RMD. Enter not all of it but $600 toward RMD. Program is happy. You can't say all of it and have a lower RMD. Review your answers.