Need help with in-putting of my husbands 1099-R.
- This is our first year requiring a RMD, husband turned 73 in 2024.
- Turbo Tax Premier asks for the amount that was required to be distributed by Dec 31, 2024.
- Turbo then states:
"Do not include RMDs which are due on April 1. RMDs for the first year you're required to take distribution are generally due on April 1."
RMD due by Dec 31, 2024: ___________
My Question: We decided not to wait till April 1, 2024 to prevent reporting 2 RMDs in 2025. He took his RMD in Dec, 2024. I'm a little confused by the wording to not include RMDs due by April 1. Should I be entering our RMD in the box for Dec 31, 2024??
Also, we took a bit more than our RMD by almost $300. If we are required to enter in the Dec 31, 2024 box, do I enter the actual RMD required amount or the total??
Add'l info: RMD Required: $33,703.28 but took $34,000. Plus additional $12,000 for Roth IRA Conversion. Box 1 on 1099-R : $46,000.
2nd Question:
We also receive one other 1099-R every year for his pension which we input separately in Turbo Tax. This year Turbo Tax asked if we had a RMD for his Pension?? Seemed kind of odd, thought it was due to his age, but we never heard of an RMD with a pension?? Any comments?
Thank you
