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Retirement tax questions
Your 1099-R only shows the amount taken out, not what the RMD was. Enter your box 1 amount in TurboTax and when asked if all or part was a RMD select YES. Then when asked how much was a RMD elect ALL. If you tell TurboTax that everything shown on the 1099-R was an RMD, you will not get the form to calculate a penalty or the need for a waiver. Just make sure that the amounts you did take out was in fact at least the RMD to be taken
‎February 10, 2025
2:21 PM