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Retirement tax questions
Someone else explained this Software error in detail yesterday.
It had to do with TTX rounding one number, but not the other, so that certain values "appear" to be short.
In the meantime, I think the solution (for now) is that when you enter what the required RMD amount is supposed to be, don't put in the cents. (probably truncate the cents would be safest)....and then it's OK to later enter what you actually received, including cents if you want, or perhaps round up.
Mostly that calculation is supposed to be used for determining what amount can be rolled over if you take more than the RMD, but if you did no rollover...this fix should work out OK.
I think...but could be wrong
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎January 28, 2025
2:05 PM