Same or similar question -
I received an inherited RMD which is on a 1099-R and was taxed. But when you get to the RMD field, it would seem you should enter what was indeed paid out but when doing so you get whacked with a huge penalty. Why would you get a further hit on a death related RMD?? And are you supposed to report the RMD this way or is it saying that you should report only that which you were supposed to get an RMD for and did not??
Most of you are speaking of multiple IRAs and trying to total the RMD requirement. We only have one inherited IRA and are meeting the RMD so why is it all being treated like there should be a penalty?
