- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
I followed your instructions and reentered all my 1099-R data but got the same doubling of the RMD (which means a significant tax penalty against the doubled amount). Since I see the penalty amount on the 1040, this is not a case of the program telling me a greater amount but not reporting it to the IRS. A Form 5329-T is included in the forms I have. It shows the RMD amount as an extra RMD that was not distributed and therefore is taxable at a rate of 10%. I can enter an amount in 53a to cancel the error, but that is fudging it.
‎February 21, 2025
9:33 AM