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Solved

Multiple 1099-Rs for One IRA

Forum|Forum|5 months ago
January 28, 2026
2 replies
28 views

I received two 1099-Rs for my IRS RMD. One has code Y for QCDs and the other 7. When I enter the two 1099-Rs into TurboTax it doesn't add them together for the one IRA and shows I have a penalty for not taking full RMD. Any idea on how to get this corrected?

Best answer by MinhT1

If you are sure that you have satisfied all RMD requirements, then in TurboTax, on each form 1099-R for RMD withdrawals, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

TurboTax will also automatically reduce your taxable income by the amount of the QCD.

MinhT1Answer

Level 15

If you are sure that you have satisfied all RMD requirements, then in TurboTax, on each form 1099-R for RMD withdrawals, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

TurboTax will also automatically reduce your taxable income by the amount of the QCD.

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user17727660904

Level 2

Thanks, I had the same question.