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Retirement tax questions
The 1099R account is not a pension. It is an annuity I purchase. The 1099R statement shows the rmd amount to be taken out. The 5498 is also an rmd account and the 5498 statement shows the rmd amount to be taken out. I take out of the 1099R monthly and do not take any money out of the 5498 account. At the end of the year, the total money taken out of the 1099R is more than the the rmd amount of the 1099R plus the rmd amount of the 5498 combined. Turbo tax allows me to show the 1099R information but it doesn't allow me to enter the 5498 information. How can I show the IRS the total taken out and the total required to be taken out?
‎February 25, 2025
2:02 PM