Missed RMD for 2025

[user17739741362]

Hi , i have two 1099R under my taxid. Act1 RMD $18209.14 and distribution taken $15644.18. Missed $2564.00.

Act2 RMD $37035.04 and distribution taken. $37036.00. I entered all info in turbotax premium desktop version. I select YES to missed RMD screen and enter $18209.14 as the total RMD i did not take distribution from in 2025. 
Next screen displays I am short of RMD amount by $20773.14.  It should be $2564.00. Am i entering wrong data or something wrong with turbotax. Tried calling 800446-8848. AI tells me to purchase paid advice to speak to an agent. Any help is greatly appreciated.

[ReneV4]

Yes. It appears that you may have entered the data incorrectly. If you entered $18,209.14 for Act2 as well, then it will add the missed $2,564 to the $18,209.14, causing the incorrect amount. Note: use rounded numbers instead of cents. For amounts under .50, round down (e.g. 18,209) and amounts .50 and over, round up. 

The good news is that it will be easy to go back and make some revisions to your Form 1099-R entries. Here's how:

1. In step-by-step Mode, go back to Wages & Income in the Federal section of your tax return
2. Select Update to the right of Retirement Plans and Social Security
3. Select the pencil to the right of your first Form 1099-R to edit your entries
4. When you reach, "Let's get more information about your Required Minimum Distribution (RMD)", enter the amount of your RMD ($18,209) that was due by December 31, 2025, Continue
5. On the next screen, "How much of this distribution applied to your December 31, 2025 RMD?", select "Some of the distribution applied...($15,644)", Continue
6. Next, you will be asked, "Did you take out the remaining $ during the correction window?", Select, "No, I did not", Continue
7. When you reach, "Review your 1099-R summary, Continue (not the pencil)
8. When you reach, "Let's go over any required minimum distributions (RMD), Select the pencil
9. Next, you will see, "Did you miss taking the...RMD...?", Select Yes, Continue
10. Enter the amount of the RMD (that you should have taken) when you reach, "Tell us the Total RMD...", Continue
11. Select "No", when asked, "Did you take a corrective distribution...?", Continue
12. Do you want to request a waiver, select, "Yes", Continue
13. Next, enter the amount of your RMD (2,564) for which you are requesting the waiver, Continue
14. Next, enter an explanation, Continue
15. When you reach, "Let's go over any required minimum distributions (RMD), Continue (not the pencil)

The above steps will correctly calculate the missed RMD as $2,564 for this Form 1099-R distribution, as well as Form 5329 to request a waiver. 

Now you can edit the second Form 1099-R where you did take your RMD by doing the following:

1. In step-by-step Mode, go back to Wages & Income in the Federal section of your tax return
2. Select Update to the right of Retirement Plans and Social Security
3. Select the pencil to the right of your first Form 1099-R to edit your entries
4. When you reach, "Let's get more information about your Required Minimum Distribution (RMD)", enter the amount of your RMD ($37,035) that was due by December 31, 2025, Continue
5. On the next screen, "How much of this distribution applied to your December 31, 2025 RMD?", select "The entire distribution applied...", Continue
6. When you reach, "Review your 1099-R summary, Continue (not the pencil)
7. When you reach, "Let's go over any required minimum distributions (RMD), Continue (not the pencil)

The above steps will correctly let TurboTax know that your RMD for this account was 37,035 and your entire distribution of 37,036 was your RMD.

If you notice the calculations are still not correct, you may need to delete your Forms 1099-R and Form 5329 and then re-enter your Form 1099-Rs.

[user17739741362]

Dear Ms Rene ,

thank you very much your prompt response. I really appreciate your time and effort.  I figured out double entry for missed RMD and followed your instructions. My entries in form5329 came out correct. It matches the form5329 that i mailed to IRS in mid Feb.

i would  really appreciate if you can review my step by step entries in the following google doc.

https://docs.google.com/document/d/1X0JwJFxAhsKe5kA6YN6vj6c0FPc3MhUtWRiIWU7kFzk/edit

thank you for your help.

[ReneV4]

Yes. Upon reviewing your entries and Form 5329, it shows what your total RMD was, versus what you actually took, and the shortfall amount for which you requested a waiver. Good job.

[user17739741362]

Thank you for taking your time to review my doc. It is a relief and i really appreciate your help.
Best wishes.