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New Member
posted Jan 19, 2025 8:29:54 AM

I've been assessed additional taxes on my RMD on Schedule 2. I'm 76 years old and did not take any amount over my RMD?

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1 Replies
Expert Alumni
Jan 20, 2025 11:55:43 AM

There may be several reasons for this error:

It's unlikely, but check the entry of your birthday in the My Info section of your return.

 

Please delete the 1099-R and re-enter it.
 

  • In the entry portion for the 1099-R be sure that
    • Distribution Code should be 7.
    • Confirm this on your 1099-R form
    • This is the most likely issue.
    • See below for a screen shot

 

  • In the questions that come up after entering the form, you will see:
    • Let's get more information about your Required Minimum Distribution (RMD).
    • Be sure this number is not greater than the RMD amount