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Retirement tax questions
It adds a penalty when you haven't taken the full RMD. The question is, did you take the full RMD?
If yes, return to the screen where you entered the form.
- RMD = distribution - You can mark the RMD is the same amount and all of it went to RMD, there is no penalty.
- If the RMD is less than what you took, enter the smaller RMD, enter that NOT all of it went to RMD but $XX = RMD did.
For example: $1000 distribution with a $600 RMD. Enter not all of it but $600 toward RMD. Program is happy.
You can't say all of it and have a lower RMD. Review your answers.
If you did not take the full RMD, you would have a penalty.
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March 10, 2025
2:16 PM