If your financial advisor or investment company calculated your RMD for you and based your distributions on that, then in TurboTax, on the form 1099-R for RMD withdrawals, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.
By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.
If you want to start having tax withheld from your retirement distributions you can start doing so for 2026. Just ask your advisor or whoever is helping you with your financial accounts. Having tax withheld or paying at the end of the year is a choice. If you are having to pay a penalty for underpayment you should consider having tax withheld. If not, it doesn't make any difference.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
