MarilynG1
Expert Alumni

Get your taxes done using TurboTax

If you received a 1099-R for a IRA retirement plan distribution, and are required to take an annual RMD, when entering the 1099-R, you'll be asked if part/all of this distribution is RMD.

 

Choose YES, and for the amount of the required RMD, enter an amount equal to or less than the distribution amount in Box 1.

 

You will then not incur a penalty, and are indicating that you withdrew the required RMD for 2024.

 

The IRS allows RMD's to be taken from one or several accounts, and expects that you and/or your plan manager will calculate this correctly.

 

Here's more info in IRS Requirements for RMD's.

 

@pmur70 

 

 

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