This is my first year taking an RMD on my inherited IRA from my dad.
TurboTax is not allowing me to check the box for IRA in the section. When I go ahead and check “other”, it lets me go through. Apparently it was not checked on the form 1099R to begin with, or at least that’s what I’m understanding.
Does this sound right? is it not considered an IRA since it is an inherited IRA?
Check This Entry
Form 1099-R (FIDELITY INVESTMENTS INSTITUTIONAL OPERATIONS CO.): Type of account
- IRA should not be selected unless this account is an IRA.
^
A
B
C
D
E
RMD Excess Accumulation Worksheet
Required RMD amount
Amount distributed in 2024
Did you withdraw the remaining RMD during the correction window?
Type of account
IRA
QuickZoom to complete Form 5329
Taxpayer:
21,200.
21,200.
Yes
403(b)
No
Other
Spouse:
Qualified Disaster Distribution Smart Worksheet
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