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mjm707
New Member

MY RMD taxes were paid when the RMD occurred. DO I record that on turbo tax

Since tax was paid do I not record it on my tax form
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1 Best answer

Accepted Solutions
xmasbaby0
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

MY RMD taxes were paid when the RMD occurred. DO I record that on turbo tax

Tax that was withheld from your retirement distribution will be shown on your 1099R.  Enter the 1099R just as it appears.

 

You had tax withheld from the distributions from the retirement account, just like when an employer withheld tax from your paychecks.  When you enter it all into the software, the calculations are done to reconcile the amount of income you received and the amount of tax that was withheld.  You might owe more or you might get a refund.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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1 Reply
xmasbaby0
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

MY RMD taxes were paid when the RMD occurred. DO I record that on turbo tax

Tax that was withheld from your retirement distribution will be shown on your 1099R.  Enter the 1099R just as it appears.

 

You had tax withheld from the distributions from the retirement account, just like when an employer withheld tax from your paychecks.  When you enter it all into the software, the calculations are done to reconcile the amount of income you received and the amount of tax that was withheld.  You might owe more or you might get a refund.

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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