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RMD Entries
Mid year I moved my IRA from Schwab to Vanguard. I had taken a partial RMD withdrawal in January when the account was with Schwab, I then took the remaining RMD withdrawal in September when it was at Vanguard. I have satisfied all my 2024 RMD with those two withdrawals. I have gotten a 1099-R from Schawb and one from Vanguarad. I have entered both of these in my 2024 return. When I do, Turbo Tax asks me each time if this entry covered my entire RMD. As each individual withdrawal does not I check no. Then I am asked to enter what the total amount of the RMD. When I do this Turbo Tax is treating the difference between the amount withdrawn and the RMD as a taxable income. How would you suggest I work around this issue.
‎January 29, 2025
6:12 AM