I took 2 distributions (one early in the year and one at the end of the year) from my only IRA.
I received a 1099R for each distribution.
TurboTax had me add this information as if it was from 2 different IRAs.
When I answered TurboTax's questions, it did not see that both distributions were from the same IRA and It mistakenly doubled the amount I owed in RMDs. Now it says I owe lots of taxes.
Please Help. Any suggestions would be appreciated.
Turbo Tax has answered this: they are working on fixing their error.
Meanwhile the work around is to enter the distribution amount as the as the RMD. Doing that corrects the tax calculation, as long as you have fulfilled your RMD total.