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Retirement tax questions
You are correct. Currently, TurboTax is looking at the distribution from each 1099-R separately and will add the Form 5329 for the penalty without looking the the total of all the distributions added together. An update is being worked on. The amounts for the RMD are not reported to the IRS if there is no penalty, it is used by TurboTax for calculation of the penalty so you can wait for the update, or as a workaround answer Yes you will withdraw in the correction window so you can file now. @kfbrady
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‎February 4, 2025
1:17 PM