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Retirement tax questions
The only way I have found to make this work with multiple IRA accounts is to fabricate values for each account that follow these rules.
For each account
-the total RMD required is equal to or less than the total distribution
-The RMD taken is exactly equal to the required RMD
Aggregated values:
-Total RMD is equal to the sum of all account RMD requirements
-Total RMD distributions are equal to the sum individual RMD distributions of all accounts
Any situation that one account has less RMD distributions than the required RMD for that account will result is a penalty, whether it is deserved or not.
Turbo Tax MUST fix this. I am not going to fabricate numbers for my tax return.
‎February 3, 2025
2:01 PM
2,604 Views