Retirement tax questions
You can understand the IRS is trying to make sure that everyone takes their RMD each year. Your RMD for 2024 was much less since you also took the 2023 RMD in 2024.
Follow these steps:
- When you enter the 1099-R, RMD for 2024? select Yes, some or all was RMD.
- How much of it was RMD? Select All of it was RMD. Otherwise, the program thinks you did not take enough.
- When asked how much is RMD, enter the distribution on the 1099-R or less.
Since you took the full RMD, the program will now be happy. This is not part of your tax return, just the program determining if you owe for not taking the full RMD.
