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Level 1
posted Feb 6, 2025 2:21:27 PM

Reporting RMD does not allow for an option to add multiple 1099-Rs. What is the correct way to report RMD that comes form more that one fund?

I report the entire distribution of each 1099-R as an RMD. I am then prompted for the total RMD. Turbotax shows what is remaining, but does not give me an option to say the remaining is on a separate fund. At a subsequent page turbotax says I owe a tax on excess accumulation in my retirement account.

0 4 1799
1 Best answer
Level 1
Feb 7, 2025 7:11:47 AM

I did this but it is still not calculating the total RMD correctly

4 Replies
Level 15
Feb 6, 2025 2:24:00 PM

Turbo Tax changed this year. When it asks about the RMD it is only asking for that one 1099R you are entering. You need to enter the amount from box 1 on that single 1099R for the RMD, not the total RMD for all and even if it is more or less than the total.   

Level 1
Feb 7, 2025 7:09:27 AM

This is happening to me as well and TurboTax is telling me not to file my taxes as they are working on it.  It appears that it is a software problem but when is it going to be fixed?

Level 1
Feb 7, 2025 7:11:47 AM

I did this but it is still not calculating the total RMD correctly

Level 1
Feb 7, 2025 8:53:59 AM

If turbo tax is working on this and telling us not to file our taxes yet, how will we know when the problem is fixed?