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Has anyone ever realized a year late that Turbo Tax software didn't calculate RMDs for both my husband and me? On line 15 it translated only my husband's RMD.
I would like to speak to a Turbo Tax representative.
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Has anyone ever realized a year late that Turbo Tax software didn't calculate RMDs for both my husband and me? On line 15 it translated only my husband's RMD.
if you both took an RMD, then you would have received two 1099-Rs for that activity.
You only entered one 1099-R, the one for his RMD.
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Has anyone ever realized a year late that Turbo Tax software didn't calculate RMDs for both my husband and me? On line 15 it translated only my husband's RMD.
TurboTax has no ability to calculate RMDs. RMDs are whatever amount you tell TurboTax is an RMD. If a distribution was omitted from line 15, it means that either you failed to enter it or it got entered on line 16 instead (either because the RMD was from a retirement account other than an IRA or because you overlooked marking the IRA/SEP/SIMPLE box when you entered the Form 1099-R).
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Has anyone ever realized a year late that Turbo Tax software didn't calculate RMDs for both my husband and me? On line 15 it translated only my husband's RMD.
if you both took an RMD, then you would have received two 1099-Rs for that activity.
You only entered one 1099-R, the one for his RMD.