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New Member
posted Feb 17, 2025 11:07:27 AM

RMD Not Adding Up

I am using TT Premier. I have two 1099R's one is an IRA and the other is an annuity. My IRA is under drawn and the annuity is overdrawn, however TT insists that I have to pay tax on the underdrawn IRA and the overdrawn annuity does not show on my Form 5329 no matter what I do. Both 1099R appear exactly the same on entries except for values, I have removed them and re-entered with no change. I cannot get the annuity to show up.

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1 Replies
Expert Alumni
Feb 23, 2025 9:04:42 AM

There was an issue in TurboTax with the RMD calculation when multiple accounts were involved.  A program update was released on 2/21/25, resolving this issue.  

 

Please review your 1099-R entries in TurboTax and complete all of the follow-up interview questions.  Once you are done updating your 1099-R entries, click Continue and answer those follow-up questions.  Once you have completed these steps, the extra tax on Form 5329 should be removed.

 

If you’re still experiencing an issue, please post here so that we can assist you further.