Multiple IRAs, Only One Combined RMD

[FishMan]

This year I start my RMDs, 1st for 2024 due April 1, 2nd due Dec 31. There are two IRA accounts, one which I have been taking monthly distributions, the other had no distributions, so I don't have a 1099-R form for the 2nd IRA.
In Step-by-Step, on the 1st IRA  "About This Retirement Account" page, checked "some or all was RMD" and checked "Part of this distribution..." . I entered the RMD amount from its 12/31/2024 account statement, then right clicked the amount for "Add supporting details", and put a new line item for the 2nd IRA account's RMD and its amount.

The result is an error on my 1099-R in the "RMD Excess Accumulation Worksheet" line A highlighted in red, and error is "RMD amount should not be less than the distribution amount that is for the RMD". Both lines are EQUAL!

I don't know where else to enter the 2nd RMD amount. I have been working on this over 10 hours  on just this one problem and is the only thing keeping me from filing. I even double-checked that all entries are "to the penny" even when displayed without cents.

[DavidD66]

If you are confident that you have satisfied your RMD requirements, and don't need TurboTax to make any calculations related to RMD for you can work around the issue.  You will need to delete and re-enter your Form 1099-R for your IRA distribution.  After you re-enter the 1099-R, when you are asked  "How much of the [Distribution Amount] was an RMD?"  indicate "None of this withdrawal was an RMD".  After you finish your 1099-R entries, a few screens later you will see "Let's check if you met the minimum distribution requirement" and will be asked "Did you take the required minimum distribution (RMD) for 2024 for ALL of your retirement accounts that have this requirement?"  Answer Yes.   The program will not calculate any RMD shortfalls or tax.  

[Carl07724]

I tried the suggested solution but I never get the prompt - I have 3 IRA accounts collectively I meet they meet the required amount for the RMDs but one is underpaid and another is overpaid. When I change the RMD amount to none the system hangs and won't continue - any other suggestions ??

[MaryK4]

You should enter an amount other than zero- this is just to determine if the RMD was taken and/or if a 5329 is needed to report the penalty for BNOT taking it.  Try to enter at least 10 as the RMD.  This section was confusing and updated recently, so if it does not work, please post here again and we can try to sort it for you. @Carl07724 

[KaribaZink]

I have gone through a process similar to Carol's.

I have three IRAs. I have calculated my total RMD via a spreadsheet and have withdrawn that total amount - but disproportionately. A complicating issue may be that some distributions were via QCDs. In the "Required RMD" box I entered the total amount of QCDs for that account and then later indicated the charitable distributions for those accounts.

In any event I get flagged for insufficient withdrawals and "Do I want to fill out a waiver request?"

[DanaB27]

Please follow these steps in TurboTax Online:

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “1099-R”
3. Click on “Jump to 1099-R” and enter your 1099-R
4. On the "Do any of these situations apply to you?" screen select "I transferred all or part of this money directly to charity"
5. Continue until "How much of the $XXXXX was a RMD?" screen and select "Only part of this distribution was a RMD" and enter the amount of RMD /or select "The entire distribution was an RMD" (if this distribution includes RMD for other IRA accounts then you included the amount here)
6. Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen
7. Enter how much your transferred to charity
8. On the "Review your 1099-R info" screen click "Continue"
9. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable. 

In TurboTax Desktop:

1. Click on "Search" on the top right and type “1099-R”
2. Click on “Jump to 1099-R” and enter your 1099-R
3. On the "Required Minimum Distribution" screen enter RMD for this account 
4. On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "Some of this distribution…" and enter the RMD amount / or select "The entire distribution applied…"  (if this distribution includes RMD for other IRA accounts then you included the amount here)
5. Answer the "Transfer to Charity Screen"
6. On the "Your 1099-R Entries" screen click "Continue"
7. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable. 

Note, if you had one IRA that had a RMD but you didn't withdraw anything because you took the RMD from other accounts then you will select  "An IRA..." on the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen. On the next screen "Total RMD for all other IRAs" enter the RMD from your other IRAs, where you didn't take a distribution from. If entered correctly then you shouldn't get an other RMD questions after this.

Also, when you met the RMDS for 2024 then Form 5329 will not get filled out and will not be sent to the IRS. The Smartsheet showing up on Form 5329 in forms mode does not get sent to the IRS.

@KaribaZink 

[artgou]

I followed your instructions, but I did not get the screen indicated in your response