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I have an IRA with required distribution. I made the required distribution. I answered one question about that in Turbotax saying I made it. Is that all I need to do?

 
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DavidD66
Expert Alumni
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I have an IRA with required distribution. I made the required distribution. I answered one question about that in Turbotax saying I made it. Is that all I need to do?

If you are sure that you have satisfied all RMD requirements, then in TurboTax, on the form 1099-R for RMD withdrawals, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.

 

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

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DavidD66
Expert Alumni
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

I have an IRA with required distribution. I made the required distribution. I answered one question about that in Turbotax saying I made it. Is that all I need to do?

If you are sure that you have satisfied all RMD requirements, then in TurboTax, on the form 1099-R for RMD withdrawals, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.

 

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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