- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
The RMD from your father's RMD is indeed your RMD because you are the one who is required to obtain the distribution as beneficiary. When TurboTax asks after clicking the Continue button on the page that list the Forms 1099-R that you have entered whether or not you have completed your RMDs, it refers to the sum of the RMDs for you as owner plus the RMDs for you as beneficiary of your father's IRA.
If you took all required RMDs from your IRA(s) and the inherited IRA, indicate so.
Because you are the one who is required to obtain the distribution from these accounts, failure to complete either RMD is reportable in the same way on Part IX of your Form 5329. Because of this, with respect to Form 5329 there is no meaningful distinction between RMDs you are required to take from your own retirement accounts and an RMD that you are required to take from an inherited retirement account. This means that there is no reason for TurboTax to distinguish between these two RMDs and only needs to work with the combined total.