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ebtech62
Returning Member

Next year's Required Minimum Distribution Included in Estimates?

Does Turbotax take into account the RMD for an IRA for the next tax year when calculating estimated tax payments? I keep owing taxes every year getting estimates that are too low and I think this may be part of the issue. It asks to see if I have met this year's RMD or else I'd be penalized.

 

I think Turbotax should ask about this and, based on a person's age and IRA value, calculate the RMD for the next tax year and add this to calculations for estimated tax payment amounts.

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