Input multiple RMD

Forum|Forum|7 years ago
June 4, 2019
1 reply
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I have multiple 1099R and have RMD for each or do I group them? In some cases the required RMD is greater than what I took and TurboTax will not allow me to enter it. I have been advised that the IRS only cares about the total RMD not each individual account.

TurboTax Premier Windows

Anonymous

See this from the IRS:

Can an account owner just take a RMD from one account instead of separately from each account?

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. 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.

https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-required-minimum-distributions#...