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sbdtn46
New Member

If my IRA distribution is more than the RMD, why does turbotax need to know the amount that applies to the RMD?

 
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2 Replies
Hal_Al
Level 15

If my IRA distribution is more than the RMD, why does turbotax need to know the amount that applies to the RMD?

It doesn't need to know it. It only needs to know that you met the RMD requirement.  It asks for an amount only to be able to calculate the penalty if you didn't meet it.

It's one of those situations where you just do what the program asks, so you can keep moving. In other words, the question is there for the exceptions, but regular clients still have to jump thru the hoop.

If my IRA distribution is more than the RMD, why does turbotax need to know the amount that applies to the RMD?

Unless you rolled the excess over, it makes no difference if you say it was all a RMD or just the amount of the RMD.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

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