TurboTax sometimes asks for your "Fair Market Value" (FMV) or RMD info to see if you met your requirements or if you have "basis" in a Traditional IRA.
For the 2025 RMD: You already have the info you need. The RMD you took in 2025 was calculated based on your December 31, 2024 balance. Look at your Fidelity Year-End Statement for 2024. On the first few pages, there is usually a section labeled "Required Minimum Distribution Summary" that lists the exact 2025 RMD amount.
If the software is blocking you from continuing, it's usually because it wants to know if you made a contribution or if you took your full RMD.
- Use your 1099-R (which Fidelity already issued in January). When you enter the 1099-R, TurboTax will ask, "Was this an RMD?" and "Was all or part of this the required amount?"
- If the software insists on a 5498 number, simply use your December 31, 2024 balance from your statements. This is the "Fair Market Value" that the IRS uses to track RMD compliance.
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