DanaB27
Expert Alumni

Get your taxes done using TurboTax

If enter it with the steps below I do not get an error. But you could as workaround enter enter RMD1 as 15,000 and RMD2 as 3,000. You are not required to file Form 5329 if you met all of your RMD for 2024. TurboTax will enter the information in the "Additional Retirement Account Smart Worksheet" to check that you met the RMD but this will not be sent to the IRS.
 

 

Please follow these steps in TurboTax Online:

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “1099-R”
  3. Click on “Jump to 1099-R” and enter your 1099-R
  4. Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen ($10,000)
  5. Continue until "How much of the $XXXXX was a RMD?" screen and select "The entire distribution was an RMD" ($15,000)
  6. On the "Review your 1099-R info" screen add the second 1099-R 
  7. Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen ($8,000)
  8. Continue until "How much of the $XXXXX was a RMD?" screen and select "The entire distribution was an RMD
  9. On the "Review your 1099-R info" screen click "Continue"
  10. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024.

 

 

In TurboTax Desktop:

 

  1. Click on "Search" on the top right and type “1099-R”
  2. Click on “Jump to 1099-R” and enter your 1099-R
  3. On the "Required Minimum Distribution" screen enter RMD for this account ($10,000)
  4. On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "The entire distribution applied…" ($15,000)
  5. On the "Your 1099-R Entries" screen add the second 1099-R 
  6. On the "Required Minimum Distribution" screen enter RMD for this account ($8,000)
  7. On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "The entire distribution applied…"  ($3,000)
  8. On the "Your 1099-R Entries" screen click "Continue"
  9. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024.

 

Please see Can an account owner just take a RMD from one account for additional information.

 

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