I have two IRA accounts. I am required to take an RMD. I took the total RMD from one account. How do I state the RMD for the other account since it doesn't have a 1099

An IRA owner must calculate the RMD separately for each IRA that he or she owns, but can withdraw the total amount from one or more of the IRAs. 

 

You do not need to have a 1099-R form for each of your IRAs

 

If you are sure that you have satisfied all RMD requirements, then in TurboTax, on your form 1099-R for RMD withdrawal, 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.

 

Similarly, a 403(b) contract owner must calculate the RMD separately for each 403(b) contract that he or she owns, but can take the total amount from one or more of the 403(b) contracts.

 

However, RMDs required from other types of retirement plans, such as 401(k) and 457(b) plans have to be taken separately from each of those plan accounts.

 

Please read this IRS FAQ for more information.

When I requested the distribution from IRA-1, I requested RMD from IRA-1 plus RMD from IRA-2 plus a round up distribution to the next $1000.  I have the 1099-R from IRA-1.  Part of the 1099R amount is IRA-1 plus IRA-2 RMDs and part is a simple distribution.  Turbotax asks me for my RMD only from IRA-1, not the total RMD.  How do I enter the RMD for IRA-2 to show that my entire RMD has been covered and there is also a round up distribution?  If I enter the entire RMD amount on the question about the IRA-1 RMD, it will show the IRA-1 RMD has been exceeded and not recognize the IRA-2 RMD as covered.

 

Thanks,

don

As I have explained in my previous answer, your answers in TurboTax to the RMD questions are not reported on your tax return which is filed with the IRS. This is just a way to say to TurboTax that all your RMDs are satisfied so TurboTax does not calculate a penalty.

 

You just keep information about the RMDs in your tax records in case you have an inquiry from the IRS in the future.

OK, I'll accept that.

However, you might consider an update to your TurboTax software, specifically (clipped from the TurboTax software):

To me, TurboTax appears to be telling me to enter only the RMD from the IRA with the 1099R form and to enter the other RMD amounts elsewhere.  I was looking for the way to enter the 'other retirement accounts' referenced by the TurboTax software.

 

Question answered.  Thanks.

don

Other retirement accounts mean other types of retirement accounts such as 401(k) and 457(B) plans, for which RMDs have to be taken separately from each of those plan accounts.

 

Please see question 5 of this IRS FAQ for more information.

I have the exact same problem.  The software makes it look like I should only show the RMD for RMD 1, not RMD 2;  However, it is in my best interest not to start taking money from RMD 2 yet.  That is why I am taking RMD 1 and 2 out of RMD 1.  Seems OK for now.  I hope it doesn't come back to bite me when I start taking withdrawals from RMD 2.  For now, per Turbo's expert, I will take 1 and 2 from RMD 1.

Yes, you can take all of your IRA RMD from only one IRA. Please see Can an account owner just take a RMD from one account for additional information.

 

Please follow these steps in TurboTax Online:

 

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “1099-R”
3. Click on “Jump to 1099-R” and enter your 1099-R
4. Continue until "How much of the $XXXXX was a RMD?" screen and select "The entire distribution was an RMD"  /or select "Only part of this distribution was a RMD" and enter the amount of RMD (if this distribution includes RMD for other IRA accounts then you included the amount here)
5. Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen
6. On the "Review your 1099-R info" screen click "Continue"
7. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "An IRA..."
8. On the "Total RMD for all other IRAs" screen enter the RMD from your other IRAs (where you didn't take a distribution from).

 

 

In TurboTax Desktop:

 

1. Click on "Search" on the top right and type “1099-R”
2. Click on “Jump to 1099-R” and enter your 1099-R
3. On the "Required Minimum Distribution" screen enter RMD for this account 
4. On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "The entire distribution applied…"  / or select "Some of this distribution…" and enter the RMD amount (if this distribution includes RMD for other IRA accounts then you included the amount here)
5. On the "Your 1099-R Entries" screen click "Continue"
6. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "An IRA..."
7. On the "Total RMD for all other IRAs" screen enter the RMD from your other IRAs (where you didn't take a distribution from).

 

 

You are not required to file Form 5329 if you met all of your RMD. TurboTax will enter the information in the "Additional Retirement Account Smart Worksheet" to check that you met the RMD but this will not be sent to the IRS.

 

 

@mercvette 

Great solution but I have used Turbo tax for several years now and last year I took part of my RMD from both IRSs so Turbo Tax was expecting a 1099R from both, but since I didn't take part of the RMD from one of them they did not send me a 1099R and the system asked for the other 1099R then asked if I took the RMD.  No box to check to explain.

when no distribution occured, and you have no 1099-R, the existence of that account is of no relevance to preparing your tax return. RMD is calculated over all accounts, yet can be satified by just one account distribution.

when you start your return, delete left-over tax documents such as 1099-R that are not applicable.