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Question about 1099R

My Financial advisor has me in two different account with the same Financial Institution. I withdrew more than my required RMD but only from one of the accounts. Hence, I only received one 1099R (from which funds were withdrawn). I decided to enter the other account 1099R info but receive an error message sent the distribution amount is zero dollars. If I have not received 1099R's from other smaller IRA accounts because I did not request any distributions how does the IRS know that I have taken all my required RMD for all my IRA's from my largest account? Is it an issue if I do not all my 1099R's listed on TurboTax? Should I just delete accounts I did not get distributions from? I don't want to because next year I may have to re-create them.

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1 Reply
JamesG1
Employee Tax Expert

Question about 1099R

In TurboTax Premium Online, you are able to report required minimum distributions for accounts that are not listed on the tax return.

 

At the screen Did You Miss a Required Distribution From Any Retirement Accounts, you may disclose the account or select None of these plans failed to withdraw the RMD.

 

 

In the TurboTax Online version, if no pension distribution has been reported, follow these steps:

 

  • Say ‘No’ to form 1099-R.
  • You are asked a question about a disaster distribution.
  • You are asked a question about nondeductible contributions.
  • The screen Did You Miss a Required Distribution follows.
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