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Is RMD software wrong? My rmd was 50 and I withdrew 90. Software said I owe on excess retention. I obviously did not retain any. Any one else with this issue?

 
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1 Reply
DanaB27
Expert Alumni

Is RMD software wrong? My rmd was 50 and I withdrew 90. Software said I owe on excess retention. I obviously did not retain any. Any one else with this issue?

The RMD section has been updated please go back to your 1099-R entry and review the follow-up questions. At the end of the interview you should be able to select that you took all of your RMD and this should remove any penalty:

 

  1. Click on the "Search" on the top right and type “1099-R” 
  2. Click on “Jump to 1099-R”
  3. Review your entries and continue through the questions
  4.  On the "Review your 1099-R info" screen click "Continue"
  5. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD"
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