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March 2, 2025
Question

Roth IRA BDA

  • March 2, 2025
  • 1 reply
  • 0 views

I inherited a Roth IRA and so now I have a Roth IRA BDA.  I am taking RMD (required minimum distribution) and in my situation my RMD per year is based on my life expentency.  I know that this is not taxed.  Over the past few years I have had no problem with desktopTurboTax.

 

This year (tax year 2024), I am getting an error that needs to be corrected on the 1099-R form (worksheet).  It is asking me to enter a "Required RMD Amount".  However, when I enter this, as well as entering the "Amount Distributed in  2024" (which is the same amount), the worksheet then wants me to answer the question,"If this is a distribution from a traditional IRA or qualified retirement plan ....".  However, it is neither - it is a Roth plan.  So I'm not sure how to answer the questions.  Easy step does not address this issue.

 

Thanks in advance for any suggestions.

 

    1 reply

    fanfare
    Employee
    March 3, 2025

    I guess you are saying "neither" is not an option.

    what are the codes in Box 7 of 1099-R?

     

    @agent414 

    agent414Author
    March 3, 2025

    Hi fanare,

    The code in Box 7 is T.

    The IRA/SEP/SIMPLE box is not checked.