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Minor rounding error in RMD Excess Accumulation Worksheet

I have a single IRA which I withdrew more than the required RMD. So I fill out the "Was this withdrawal an RMD for 2024/"   YES and "Part of this distribution was an RMD."  I then enter the RMD Amount from this IRA which ends in 40 cents.  Turbo tax accepts the full amount including the 40 cents.

 

The "Let's get more information" page that follows asks for the "Required Minimum Distribution Amount."  When I enter the amount with the 40 cents, the page rounds this down to the nearest dollar.

 

This is flagged as an error in the error check process and the form shows as "not done"

If I change both RMD amounts to end in 60 cents, it works

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1 Reply
AmyC
Employee Tax Expert

Minor rounding error in RMD Excess Accumulation Worksheet

If you take out more than the RMD, you can just say yes and continue on. The program is looking for those that did not take the full RMD to calculate a penalty. Removing excess has no effect. Impressed you figured it all out! Great job!

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