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New Member
posted Mar 22, 2025 10:29:51 AM

Can I explain excess accumulation in retirement accounts on turbo tax

explain excess accumulation of retirement accounts to irs

0 4 640
4 Replies
Level 15
Mar 22, 2025 10:35:38 AM

It could mean you didn’t take all your RMD out of your retirement accounts.   Did you get a pension?  It will ask if it the RMD.   Say yes, all of it is the RMD.  Anything they pay you is considered to be the RMD.   I would go back and delete all the 1099R forms and enter them again Manually.  That usually fixes it especially if you imported any forms.  And there have been recent program updates that fixed the RMD problems.   

Level 15
Mar 22, 2025 12:17:49 PM

[   ]

 

@lcemessages 

Level 15
Mar 22, 2025 12:21:23 PM

Sorry.

 

Once you request the waiver, then you enter the explanation in the place provided.

Level 15
Mar 22, 2025 12:23:16 PM

make sure you are not being wrongly penalized  after satisfying yuur RMD