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1dalefan
March 11, 2025
Question

Trying to determine how to respond to the RMD shortfall of $1.00. She received her normal $200.00 per month until June2024. Her Accnt was closed in 6/24 and her balance

  • March 11, 2025
  • 1 reply
  • 0 views
on June 13,24. balance in account was $776.60 which she received a check for. She did not miss and RMD. Turbotax is calculating penalties anyway. How can I correct this?

1 reply

fanfare
fanfare
Employee
March 11, 2025

The 25% panalty on $1.00 is twenty-fivecents which TurboTax should round to zero.

What is the amount of  the distribution? What was the amount of the RMD?

If these numbers differ by $1.00 that is a user error.

 

@1dalefan 

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