- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
This almost worked, but I have found another problem when filling out the Total RMD for all other IRAs. I have a small IRA held as a CD in a local bank for which I need to make an RMD, which I will call IRA-RMD. Because it's held as a CD, I add the "IRA-RMD" to the money distributed through my much larger SEP-IRA at an investment company (SEP-IRA-RMD). Some distribution goes to charities, the rest goes to us. I entered the SEP-IRA-RMD numbers when filling in the 1099-R from the investment company. I received no distribution from the bank to cover the IRA RMD, so I entered the amount due in the Total RMD for all other IRAs, and when I moved on to the next entry (WAS A CORRECTIVE DISTRIBUTION MADE FOR YOUR IRA ACCOUNTS), TurboTax told me my RMD was short BY THE EXACT AMOUNT I entered for the IRA-RMD. That looked suspicious to me, so I tried entering the digits 333 and TurboTax told me my RMD was short by exactly 333. So it looks to me like TurboTax is adding rather than subtracting or the other way around for the Total RMD for all other IRAs. Please check this and fix it. Thanks