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Get your taxes done using TurboTax
By dropping the number "4" you are changing the number on your 1099-R, a copy of which goes to the IRS. This may be immaterial but the disparity could also trigger some sort of review of the return. To my knowledge, the workaround I suggested--simply telling the Turbotax step-by-step "interviewer" that there is no RMD for the account--does not misrepresent the information on the 1099-R or otherwise result in any misrepresentations on the final tax return or accompanying forms, and properly reflects the amount of tax owed (i.e., without an erroneously generated underpayment of RMDs penalty).
March 11, 2025
7:15 AM