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Level 1
posted Feb 7, 2025 10:46:07 AM

How to enter multiple RMD 1099-R's without getting hit with a tax on excess accumulations in retirement account?

The sum of the 1099-R's equal the RMD amount.

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1 Replies
Expert Alumni
Feb 7, 2025 12:51:15 PM

You can withdraw from only one account if they are both regular IRAs or 403b plans.  If any of them are 401ks or 457 plans or the like then you have to take the required RMD from each account separately.

 

Make certain that the 'IRA/SEP/Simple' box is checked on all of the 1099Rs that you received and in the TurboTax system.  If it is not then the system is doing the correct calculation.

 

Here is where that information can be found on the IRS website.

 

@dcschlott