RMDs from two accounts

Forum|Forum|1 year ago
March 21, 2025
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I have two accounts with RMDs. I took the bulk of the RMD from one account and the remaining amount from the other account. How do I account for that in Turbotax? If I put the actual amount taken from each account, they won't match either 1099-R.

DanaB27

To confirm these were RMDS for IRAs? If yes, then please see the instructions below. Example of two IRAs, IRA-a with RMD of $3,000 and distribution of $5,000 and IRA-b with RMD of $3,000 and distribution of $1,000.

Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter your first 1099-R (IRA-a)
On the "Required Minimum Distribution" screen enter RMD for this account ($3,000)
On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "The entire distribution applied…" / or select "Some of this distribution…" and enter the RMD amount (if this distribution includes RMD for other IRA accounts then you included the amount here) ($5,000)
On the "Your 1099-R Entries" screen add the second RMD (IRA-b)
On the "Required Minimum Distribution" screen enter RMD for this account ($3,000)
On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "The entire distribution applied…" / or select "Some of this distribution…" and enter the RMD amount (if this distribution includes RMD for other IRA accounts then you included the amount here) ($1,000)
On the "Your 1099-R Entries" screen click "Continue"
On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024.

Please see Can an account owner just take a RMD from one account for additional information.

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Bobbo00Author

Employee

That didn't work. Following your instructions, here is what I did for the first RMD:

1. On the "Required Minimum Distribution" screen I entered $5000,

2. On the "How much of This Distribution Applied to your December 31, 2024 RMD? I selected "Some of this distribution…", then I entered $35,000.

When I clicked on "Continue" I got this error message in red: "Enter a valid value"

That is as far as I got because I cannot go any further. Please advise. Thank you.

Bobbo00Author

Employee

Well, after my last post I decided to try again. I deleted the 1099-R forms and re-entered everything. This time everything worked perfectly using your instructions. The only thing I did differently was to enter the higher RMD/lower distribution IRA first. Other than that, I have no idea what went wrong the first time, but I'm happy with the result.