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New Member
posted Feb 20, 2025 9:06:25 AM

Does anyone know why it shows that I owe a penalty for a missed RMD when I don't. I took more than the RMD out of the only account that required it.

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1 Replies
Expert Alumni
Feb 23, 2025 8:33:09 AM

There was an issue in TurboTax with the RMD calculation when multiple accounts were involved.  A program update was released on 2/21/25, resolving this issue.  

 

Please review your 1099-R entries in TurboTax and complete all of the follow-up interview questions.  Once you are done updating your 1099-R entries, click Continue and answer those follow-up questions.  Once you have completed these steps, the extra tax should be removed.

 

If you’re still experiencing an issue, please post here so that we can assist you further.