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Level 1
April 10, 2026
Question

I took my RMD, as calculated by Fidelity investments, and I'm being told that I owe an excess accumulation penalty. Why?

  • April 10, 2026
  • 1 reply
  • 38 views
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1 reply

SteamTrain
Level 15
April 10, 2026

@avley 

 

Apparently you answered something wrong.

 

Edit the 1099-R and go thru the follow-up questions again.

 

When it asks how much your RMD was...enter the box 1 $$ amount.

Then on a  subsequent page....you just make the selection to indicate it was ALL your RMD.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*