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K
karen103
March 25, 2025
Question

took all the money left in an IRA and stuck on RMD question

  • March 25, 2025
  • 1 reply
  • 0 views
closed my IRA. RMD doesnt apply

    1 reply

    M
    MinhT1
    March 25, 2025

    If you took a total distribution of your IRA account, then in TurboTax, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.

     

    By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

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