I am in the Smart Check phase near the end of doing my return, and TurboTax tells me to "Check This Entry".
For one of my 1099-R's, it says, "Required minimum distribution box should have a selection if there was an RMD for this account."
I am given a 3-way radio button, telling to pick one of:
- No Entry
- Yes RMD
- Not all RMD
I don't understand why I'm getting this message. The 1099-R is from an Inherited Roth IRA-BDA account. I've had this account for about 5 years now. Every year, I have an RMD for it, which I take out. I don't remember getting this problem in previous years.
The 1099-R is from Fidelity. It is pretty basic:
Box 1 has my gross distribution which is what my RMD is (with a possible caveat that I may have taken around $1 extra this year because earlier this year I got a disagreement about what my RMD by about $1, so I used the bigger number).
Box 2b is checked for Taxable amount not determined.
Box 7 distribution code is T.
There is no box for Required minimum distribution. I compared to previous years, and my form is the same.
I notice that if I select "Yes RMD", my Federal Tax Due goes down, but if I pick either of the other two options, my Federal Tax Due goes up. This is a Roth-style distribution, so it should not have any taxable value.
I'm inclined to pick "Yes RMD", but this whole behavior doesn't make any sense to me, so I felt I better ask here before doing anything.
Can somebody explain why TurboTax has a problem here, and what I should be doing for this case?
Thank you
P.S. When I select "Yes RMD", and continue, I immediately get another Check This Entry complaining, "Correction Window must have a selection to indicate whether corrective distribution was taken during the correction window. Check the box based on any corrective distributions for this account only.
- No entry
- Corrected - Yes
- Corrected - No
This seems really wrong, and really worries me. And I have no clue what to do here.
