I entered two 1099 for three accounts for my IRA distribution for 2024. It exceeds the RMD for all my accounts combined (which is allowed IRS 590B). I got an error message regarding calculating the RMD for a specific account. TT should ask what the total RMD for all IRA accounts is and if the total reported IRA distribution is equal or greater than the total RMD that should be the only requirement.
Please resolve this quickly because I want to file soon.
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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.
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