This question is answered by Copilot. The answer has helped me to solve the RMD multiple accounts input issue.
TurboTax calculates Required Minimum Distributions (RMDs) for multiple accounts by asking you to enter the RMD information for each individual account. Here are the key steps:
1. **Separate Calculation**: You must calculate the RMD separately for each IRA or 403(b) account you own. However, you can withdraw the total RMD amount from one or more of these accounts.
2. **Data Entry**: When entering the information in TurboTax, you need to input the RMD details for each account. On each Form 1099-R for RMD withdrawals, you should indicate that the entire distribution was an RMD. Then, on the following page, enter the amount of the distribution from that specific IRA account.
3. **Aggregation**: TurboTax will aggregate the RMDs from all accounts to ensure that the total RMD requirement is met. If you have satisfied all RMD requirements, TurboTax should not calculate any penalty.
4. **Special Cases**: For other types of retirement plans, such as 401(k) and 457(b) plans, the RMDs must be taken separately from each of those plan accounts.
If you encounter any issues or discrepancies, it might be helpful to reach out to TurboTax support or consult a tax professional to ensure your RMDs are correctly reported.
