Get your taxes done using TurboTax

It may be fixed.  Updates were loaded when I opened Turbotax 2024 desktop this morning.  I then went through the step-by-step interview for the 1099-R account for which I was previously having the erroneous RMD penalty generated.  I was no longer asked in the interview whether all of the the amount received constituted an RMD.  No RMD penalty is now shown on my return.

 

Look at your1099-R form generated by Turbotax for the account giving you the indication of an RMD accumulation penalty and scroll down to the RMD Excess Accumulation Worksheet.  Assuming you in fact took all of your RMD for the account, you should have no entry in the "Required RMD Amount" box, even if you in fact had an RMD for that account.  If you enter the actual RMD required in that box, the program will show it in red as an error.