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How does turbox tax calculate the required rmd on an ira

How can i correct turbotax calculation of rmd on an ira
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2 Replies
DawnC
Expert Alumni

How does turbox tax calculate the required rmd on an ira

TurboTax does not calculate your RMD - your account admin usually does that.   They can tell you what your RMD is or you will find it on Form 5498.  

 

To confirm the amount of your RMD, refer instead to your Form 5498. If you’ve reached the age for RMDs, and you didn’t receive Form 5498, contact your plan administrator (quickest way).

 

For more info about RMDs and when they're required to start, see What are required minimum distributions (RMD)?

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How does turbox tax calculate the required rmd on an ira

Due to TurboTax issues dealing with RMD,
to avoid wrongful penalty, for each 1099-R, tell TurboTax that the calculated required amount is -0-..

 

This was a problem last year, and apparently still not fixed.

 

@mquint1969 

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