RMD and QCD

3 replies
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2025 Premier page for "Traditional IRA" value says to use Dec. 31, 2025 value, But IRS.gov site says to use previous year (2024). Which is it? IRS needs to know the basis of your calculation for the RMD taken in 2025.

dmertzAnswer

Level 15

If TurboTax asks for your 2025 year-end balance in traditional IRAs, that's what you need to enter. This value has nothing to do with determining the amount of your RMD but instead has to do with determining the taxable amount of your traditional IRA distributions (the taxable amount of the portion that is not QCD), calculated on Form 8606 when you have basis in nondeductible traditional IRA contributions.

ThomasM125

Alumni - Intuit

You use your IRA balance at the end of the previous year to determine what your required minimum distribution (RMD) is. If you could clarify better where you are seeing the reference to the traditional IRA balance in TurboTax we can help you better. I know there is a reference to the balance at end of the year when determining the taxability of distributions, but it is not related to your RMD.

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dmertzAnswer

Level 15

bobreb451Author

Level 2

Thanks for that - I forgot about the influence form 8606 has on my RMD. I've been tracking the non-taxable portion of my IRA on 8606 for years and thanks to TurboTax "remembering" my previous years of tax returns, it fills in the values for me (except, of course, end-of-year value). I'm guessing not a lot of filers have to use form 8606.