I've taken distributions from several retirement accounts and the total satisfies my Required Minimum Distribution (RMD) for federal tax purposes. The RMD for each individual account may or may not be satisfied however. Since TurboTax asks about satisfying the RMD on an account by account basis, how should I answer each question? What will TurboTax do if I answer "no" to satisfying the RMD for a given account but have satisfied the overall RMD requirement?
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Answer yes for each distribution.
Be aware that a distribution from one traditional IRA can satisfy the RMD for another of your traditional IRAs and a distribution from a 403(b) can satisfy the RMD for another 403(b), but otherwise a distribution from one retirement account cannot satisfy the RMD for another. Also, spouse's must satisfy their RMDs individually, one spouse cannot satisfy the RMD for the other. Similarly, RMDs for inherited IRAs cannot be satisfied by distributions from your own IRAs or vice versa. If your distributions satisfy your RMDs after applying these restrictions, answer that you have satisfied all of your RMDs for the year.
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