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Retirement tax questions
Yes, of course. In this case, it was my father and and I will be following the 10 year rule for a inherited IRA. My point was that after today's update to TurboTax 2024, the amount of the RMD was subjected to a 25% penalty. I had made no changes to my return other then opening it up after the update. What I have discovered though since posting my previous message is that the update had reset the RMD amount to zero when declaring how much of the RMD was included in the total distribution for 2024. So there isn't an issue (other than having to re enter in this information after the update).
‎February 20, 2025
4:01 PM