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New Member
posted Jun 4, 2019 4:21:29 PM

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!!!

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1 Replies
Level 15
Jun 4, 2019 4:21:30 PM

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.