TTP on my Computer:I was on my last entry 1099R , when I entered my RMD distribution amount , next screen said DON"T PROCESS RETURN" . So, I called my Investment Group, they agreed, they understated my RDM Amount by 50%. That day they corrected the RMD amount. They difference was transferred to my Bank. They also with held the Federal & State Taxes (2024). I need an updated 1099R Form. So I returned to TT Program and completed questions. Next Screen indicated that there were working and some updates...keep on working and return back.
Completed entering all data for Federal & State. Selected Review...Passed State RTN & Failed Federal..had 2 errors.
Net result Cant file my tax returns.
Note: When your RMD is understated and you request you Investment Group to re calculate the Distribution. Its very possible IRS will tax the increase by 50%. However there is a Form5329 must be filled out and a "Best Effort Letter" be attached to Form & Federal Return to address the issus. If stated correctly NO additional taxes will be taken. TTP has not provided a method to incorporate Form 5329 & Best Effort Letter into the program so I can e-file my Federal Tax Rtn .
I have been waiting at least a week for and answer to correct this problem.
It seems this program is not equipped to solve un-common problems!
I am 84, I have been doing my tax returns since 2002.
I am going to call TurboTax 1-800-624-9066 and explain my problem.
I have wasted a week waiting for a response!!
Probably have to manually do my taxes this year...Pursue a Rebate!!
