distributions from IRAs which is larger than the calculated RMD When TT checks the return, it lists an error. Is this a program error or am I entering data incorrectly?

[jim-neveu]

TT asks if some or all of the distribution applies to the 2024 RMD. Is the answer some or all of the distribution applies?

[DanaB27]

If you took more than the required RMD then you select part "Some of this distribution…" and enter the RMD amount.

Please follow these steps in TurboTax Online:

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “1099-R”
3. Click on “Jump to 1099-R” and enter your 1099-R
4. Continue until "How much of the $XXXXX was a RMD?" screen and select "Only part of this distribution was a RMD" and enter the amount of RMD (if this distribution includes RMD for other IRA accounts then you included the amount here)
5. Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen
6. On the "Review your 1099-R info" screen click "Continue"
7. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable. 

In TurboTax Desktop:

1. Click on "Search" on the top right and type “1099-R”
2. Click on “Jump to 1099-R” and enter your 1099-R
3. On the "Required Minimum Distribution" screen enter RMD for this account 
4. On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "Some of this distribution…" and enter the RMD amount  (if this distribution includes RMD for other IRA accounts then you included the amount here)
5. On the "Your 1099-R Entries" screen click "Continue"
6. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable. 

[JJK2]

With apologies in advance for the verbosity, I have a follow up question for a similar but not identical situation:

• Two accounts: (1) standard IRA, RMD taken normally, to the penny.
• (2) annuity IRA, account rolled over to acct (1) in October. Acct (2) FI did not take RMD before rollover, did not issue 1099-R (long story, don't ask). 
• In November, acct owner had acct (1) FI take an additional (voluntary, as far as Acct 1 concerned) distribution at what acct owner calculated to be what the RMD for acct (2) *should* have been, based on (best guess) FMV (again, don't ask).
• Acct (1) FI issued 1099-R, but shows values only for the RMD distribution, not the additional.
• How/where to report the additional (voluntary) distribution? Per the suggestion above, I added RMD + voluntary distributions to Box 1 - but now the total disagrees with what the 1099-R form reads. Is this an issue?  If so, what would be the better approach in this situation?

[This likely should be a separate post, but I wanted to reference the steps recommended in the previous reply.]

One other thing: should we report the missing 1099-R (with best-guess values), to substantiate what the RMD total for the 1040 filing should have been?  If I go the missing-1099-R route in TT, it puts us back in tax-penalty territory, notwithstanding the distribution total matches the RMD total for all accounts.

[fanfare]

TurboTax 2024 has bugs regarding RMD, so you are on your own until you discover the trick.

to avoid wrongful penalty, for each 1099-R you received, tell TurboTax that the distributed amount is the calculated required amount.

OR

to avoid wrongful penalty, for each 1099-R, tell TurboTax that the the calculated required amount is ZERO..

@JJK2 

[JJK2]

Thanks for the input... though honestly, either of those approaches sounds kind of dodgy.  Will keep them in mind but continue search and research for a bit..

[fanfare]

Until you accept the solution or TurboTax fixes its bugs, you will continue to struggle.

@JJK2 

[JJK2]

Option 2 (zeroes) still sounds sketchy to me, but on further thought, decided to amend the TT 1099-R record for the FI where we actually paid the missing RMD info to include the original figures *plus* the additional payments (RMD, FIT, SIT) we made for the 'missing' 1099-R. We're also prepped with a 5329 and its supplement, in case questions are raised.

Will see how it goes, but so far so good.  

Thanks for the suggestion.  This approach would not have occurred to me on my own,