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New Member
posted Feb 2, 2025 3:44:56 PM

I only have one 401k, I took a little more than the min RMD. Turbotax keeps trying to tell me it's double that amount

0 2 924
2 Replies
Expert Alumni
Feb 8, 2025 4:00:17 PM

The program is looking for people who did not take enough. You need to change your RMD answer so the program knows that yes, you took the full amount. Enter the actual RMD. 

New Member
Feb 8, 2025 11:16:14 PM

I already did that - several times. 

 

Once again - this is not the answer.  I think the program is confused by my birthdate.  I didn't turn 73 until after April 2024.  So I wasn't required to take anything during the 2023 filing.  I did take it -after I turned 73 in July  2024 and it is reflected on the 2024 taxes.   I really could have waited until 2025 - and have taken two RMD's.  The iRS allows that.  But I didn't want to get hit with more taxes next year.  Once again - I took more than the IRS said I had to - and it was reflected on the 1099 for 2024.  And had them take out an additional 30% of tax so I woudln't get hit with under withholding.  Turbo Tax keeps asking me I want to wait a letter requesting a explanation and a request for a waiver of penalty  - for what?  I didn't do anything wrong.  

 

Thanks to all of you I appreciate your attempt to be helpful.  But the software has a bug in it. 

 

But you can consider this matter closed.  I went to another tax service.  entered the exact same mounts and e-filed.  And my return  has already been accepted by federal and state.

 

Best to all of us.