My wife has two IRA's which we had RMD withdrawals in 2024. The total RMD amount was $1303.36 split between the two accounts ($1129.54 & & $173.82, respectively). We withdrew $708.08 out of the first account and $611.05 out of the second account for a total of $1319.13. This is the first time we had RMD's and for some reason Turbo Tax is not picking up the fact that we exceeded the total required withdrawal ($1303.36 Req.- $1319.13 Act.). It is looking at the first account ($1129.54 Req.- $708.08 Act.) as an under withdrawal of $421.46 and hitting us with a 25% penalty tax (~$106)! In other words, the Turbo Tax program is not picking up the overage we took on the second account ($173.82 -$611.05 = $437.23). There has to be something I have input incorrectly because, as a total, we have withdrawn $15.77 more than the RMD amount!! Any help would be appreciated!!!
