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Deductions & credits
You can take one withdrawal and cover all accounts. The IRS just wants to ensure you are taking the minimum out each year for all that you have.
When you enter the 1099-R, the program asks if you took the full RMD required or less, meaning across all accounts that you have.
- If you took your full RMD from all accounts - Enter a value less than or equal to the payment amount on the 1099-R on the RMD required screen.
- If you did not take your full RMD, select no and enter the nontaxable amount.
This is not part of your tax return, this is the program trying to determine if a penalty needs to be calculated.
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‎February 11, 2025
3:20 PM