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April 14, 2025
Question

Turbo tax says I own tax due to not taking RMD from a IRA. We don't have a IRA. How can I fix this?

  • April 14, 2025
  • 1 reply
  • 0 views
Help error saying I didn't take rmd but DON'T have a ira. So now owe 659. This is not correct help?

    1 reply

    VolvoGirl
    Employee
    April 14, 2025

    What did you get a 1099R for?  After you enter the 1099R you need to enter how much was the RMD.  All retirement accounts have an RMD.  If you get a pension, Say all of it is the RMD.   If you need to take the RMD it will ask you if it is the RMD.  Say yes.  Anything your pension pays you is considered to be the  RMD.  Traditional pensions automatically fulfill the rules of an RMD. So for the RMD question put in the same amount as box 1.