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billy-bob10
New Member

RMD for 2016 is based on balance of IRA's as of 12/31/2015, not 12/31/2016 as requested in the question box. Turbo Tax is wrong. Correct me if I am wrong.

 
1 Reply
dmertz
Level 15

RMD for 2016 is based on balance of IRA's as of 12/31/2015, not 12/31/2016 as requested in the question box. Turbo Tax is wrong. Correct me if I am wrong.

TurboTax does not calculate RMDs.  TurboTax is asking for your 12/31/2016 balance for a different purpose, to determine the taxable amount of your IRA distribution if you have basis in nondeductible contributions.

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