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I've been assessed additional taxes on my RMD on Schedule 2. I'm 76 years old and did not take any amount over my RMD?

 
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1 Reply
JohnB5677
Employee Tax Expert

I've been assessed additional taxes on my RMD on Schedule 2. I'm 76 years old and did not take any amount over my RMD?

There may be several reasons for this error:

It's unlikely, but check the entry of your birthday in the My Info section of your return.

 

Please delete the 1099-R and re-enter it.
 

  • In the entry portion for the 1099-R be sure that
    • Distribution Code should be 7.
    • Confirm this on your 1099-R form
    • This is the most likely issue.
    • See below for a screen shot

 

  • In the questions that come up after entering the form, you will see:
    • Let's get more information about your Required Minimum Distribution (RMD).
    • Be sure this number is not greater than the RMD amount

 

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