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Retirement tax questions
John,
Steps 1-5 correlate fairly well to what I see in my Turbo Tax deluxe. However, I do not see questions #6 or #7. Instead I have this prompt: "Just a few more details about your RMD. It looks like the difference between your required minimum distribution and what you took out for this account is XXX(the amount I entered for the RMD). This amount could be taxed, but the rate is lower if you withdrew the remaining XXX (the amount I entered for the RMD) during the correction window. Did you take out the remaining XXX during the correction window?"
I can't understand this reasoning, nor can I think of a work-around except to put in the RMD as other income.
Is it possible you are looking at a different version than I?
Thanks.
‎January 26, 2025
1:26 PM