I have two IRA accounts (two 1099-R), my annual combined required RMD is 40,000.... During the step-by-step answering, there is the question "What was the required minimum distribution for Vincent's account in 2024"....
From my account A, my 1099-R shows withdraw $30,000; to the question asked, I typed in $40,000.
From my account B, my 1099-R shows withdraw $10,000; to the question asked, I typed in $40,000.
I answered both with $40,000 since the question was phrased as the "total" required RMD in 2024....Then, TurboTax calculated my required RMD as $80,000 and assessed a huge tax. Maybe Turbo Tax should rephased the question to something like ".... required RMD from ALL REQUIRED retirement accounts in 2024"? Is my understanding correct?