Reporting of 2024 1st year RMD that is withdrawn Q!, 2025

[markrehert]

For the 2025 1099R, Turbotax only wants the amount of the 2025 RMD.  How is the 2024 RMD owed and paid reported. 

[DoninGA]

The 2024 Form 1099-R has to be entered on a 2024 tax return.  You will have to amend the 2024 tax return that was filed to enter the 1099-R.

See this TurboTax support FAQ for amending a prior year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-a...

[VolvoGirl · Accepted solution]

Is the 2024 RMD included in the 1099R box 1 you got?  Or did you get two 1099R forms?   Enter the full amount from the 1099R box 1 as the RMD.  

[markrehert]

The RMD in question was for a 401K.  No distribution occurred in 2024 (the first year of the RMD) so no 1099R was issued in 2024.  box 1 of the 2025 1099R includes the sum of the RMD amounts for 2024 and 2025.  Will the IRS just look at the amount for 2025 and figure out that it also covers 2024?

Thanks,

Mark

[VolvoGirl]

Yes.  The IRS doesn't need to know part is for 2024 since you had until April 1, 2025 to take the first RMD.