MarilynG1,
Thank you very much for your response!
I agree with your statement about the IRS not knowing the value of my RMD and that the RMD can be taken from multiple accounts. It is an easy calculation, and I agree with the data provided by my plan administrators.
After carefully reading the IRS instructions for Form 1040, I can now see that TurboTax entered the correct numbers on line 4a and 4b for the 1099Rs. HAPPY!!
That said, it appears there is still a data problem with TurboTax. Please see the example on my previous post which showed for IRA-a, IRA-b, and IRA-c, the total distribution was $60,000 ($35,000 from IRA-a and $25,000 from IRA-c and $0 from IRA-b).
It looks like TurboTax only included the $35,000 from IRA-a, but did NOT include the $25,000 distribution from IRA-c. Maybe that was because there no RMD required from IRA-c? Shouldn’t the “Distributions” column on the Form 5329 worksheet show the total distribution of $60,000 (vs. the $35,000 that it shows)? That creates a $3,500 shortfall between my RMD and the total distribution, and that causes an extra $350 in tax (shown on Form 5329 Line 54a, which then flows through to Form 1040 Line 23).
Is there a way for me to fix this in the Forms method? Or have I entered something incorrectly?
As a side note: Line 44 on the “1099 Summary” appears to be incorrect. It only shows the $20,000 RMD from IRA-a but not the “Additional” $18,500 RMD from IRA-b (where I didn’t take a distribution; so there wasn’t a 1099R created).
I look forward to your advice!
