Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 30, 2023 11:38:44 AM

2022 rerturn lost RMD figures--now what do I do?

I know I entered m y RMDs on checking the final papers today I see no RMDs.  I'll owe more money to IRS, plus penalty and interest. Why after using this for years is the softwware failing me?

 

0 2 228
2 Replies
Level 15
May 30, 2023 11:49:42 AM

What do you mean lost?  You had to enter the Form 1099-R on your federal tax return which would have included the RMD if you are required to report an RMD for tax year 2022.

 

The taxable amount of your withdrawal on the Form 1099-R would be entered on the Form 1040 Line 4b if from an IRA or on Line 5b if from a pension or annuity.

 

What is shown on your Form 1040?

Level 15
May 30, 2023 12:12:25 PM

There is no separte line or notation for RMD's. on the 1040  the reason Turbotax asks about them is to see if penalties are due.