It sounds like you're seeing a tax on excess accumulations in your retirement account, even though you've taken all your Required Minimum Distributions (RMDs). Here are a few reasons why this might be happening:
- Excess Contributions: If you contributed more than the allowed limit in a prior year, the excess amount is subject to a 6% excise tax each year it remains in the account.
- Multiple 1099-R Forms: If you received more than one 1099-R form, TurboTax might think you didn't take the full RMD if the amounts weren't entered correctly. Make sure each 1099-R is entered separately and that the RMD amounts are correctly reported for each form.
- Here's a helpful article.
