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Question

Premier software has an error in it. When retiree tries to enter his MRD Premier asks for VALUE OF IRA 12/31/2018?? This is WRONG. Should ask for $ value 12/311/2017!!!

Forum|Forum|7 years ago
June 4, 2019
1 reply
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Level 15

TurboTax is asking the correct question for it's needs. This question has nothing to do with the amount of our distribution that is RMD; TurboTax does not calculate RMDs. TurboTax asks for the December 31, 2018 balance for one of two reasons, either to use it to prepare Form 8606 Part I or to determine an excess-contribution penalty if an excess IRA contribution was made.