Multiple IRA RMD and actually distributed total amounts are not properly calculated

Forum|Forum|1 year ago
February 6, 2025
1 reply
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I have several 1099-Rs. The Totals of RMDs and actual distributions are not properly calculated. As a result, form 5329-T was generated with applicable tax due to total RMD wasn't reached (line 52a and 53a). In fact, my total distribution even higher than total RMD. I found witch 1099-R wasn't included into calculation. It was 1099-R that have RMD smaller than actually distributed amount. Rest of 1099-Rs have revers situation, distributions are smaller than RMDs.

I compare with previous, 2023 TurboTax return. Everything good there. Is it a bug or something changed inn the Tax rules ?

RachelW33

Alumni - Expert

Currently in the TurboTax program, when you satisfied 100% of your RMD’s by taking more than the RMD from one (or more) accounts and less than the RMD from one (or more) accounts, you need to make some adjustments in your entries.

When entering your 1099-R’s, as you walk through the RMD questions, DO NOT enter an RMD amount greater than the distribution amount. If the RMD for that account is larger than the distribution, then use the distribution amount as the RMD for that 1099-R and add the difference to the RMD for the 1099-R for the account that you took less than the RMD from.

Our programmers are currently working to improve the RMD section experience. Be sure to sign up for email updates here: Why am I getting an RMD distribution amount error?

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