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Retirement tax questions
@Boggy4062 wrote:
It doesn't matter which version ( I use PC version). The reason I am buying a program which is supposed to answer any tax question is not to add or subtract lines on my tax for that already exit in the program. I COULD rewrite Turbotax, or create tax forms in Excel, but is it the issues? The financial brokers can and DO, calculate RMD amount for IRAs. They have the information, and make my life easier. For some reason Intuit doesn't find it important ... for them. They don't don't care about us, the customers (it is my feeling).
Your total 2019 RMD amount is based on the December 31, 2018 total value of all Traditional, SEP and SIMPLE IRAs that you might own. TurboTax has NO way to know what that value might have been since it is not usually required on a tax return. TurboTax is an income tax program, and does not collect data not needed to file a tax return for the current tax year. Nothing about a RMD goes on your tax return at all if you took the RMD - TurboTax does ask if you did take the RMD so that it can prepare a 5329 form if you failed to take it, otherwise there is nothing at all about a RMD on a tax return.