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Level 1
April 16, 2026
Question

Wrong RMD withdrawal totals leads to a penalty

  • April 16, 2026
  • 1 reply
  • 16 views

I put in two separate 1099-Rs withdrawals that covered both the April 1 and the Dec 31  RMDs, but the program calculates a 5K penalty for  "Tax on excess accumulations in retirement accounts. "  Does anyone know how to fix this problem?

 

    1 reply

    MarilynG
    Level 15
    April 16, 2026

    When you enter your 1099-R's and are asked the RMD amount, give the distribution amount and indicate 'entire distribution was RMD'.  Neither the IRS nor TurboTax knows what your RMD should be.  You may want to delete/re-enter.

     

    @paisan1951 

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