wja
Level 3

Retirement tax questions

I phone contacted TT on 2/9/24 about the multiple IRA issue of which I am also having a problem. If there is a shortfall on one RMD for one IRA account but you have taken excessive distributions from the remaining IRA accounts, TT will simply refuses to aggregate all the distributions and imposes a penalty tax on the account with the shortfall.

I was able to have a conversation about the issue with a very helpful gentleman in another department but took the time to check the issue and said that yes indeed it is a known problem and that it is being worked on. Kudos to Allen for his help. The below link addresses it.

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/retirement-income/getting-rmd-distributi...