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New Member
posted Apr 3, 2025 10:48:36 AM

RMD & QCD

RMD - $76,000

QCD - $10,000

1099R - $66,000

I input the above amounts in the requested fields in Turbo Tax but I am getting an error message saying that I am $10,000 short on my RMD and getting hit with a penalty. 

0 4 761
4 Replies
Level 15
Apr 3, 2025 10:53:46 AM

What line is the 66,000 on in the 1099R?   Line 1 should be the full 76,000.   And probably line 2a also.  

New Member
Apr 3, 2025 11:16:45 AM

Both are $66,000, appears I need to contact Schwab. Thanks!

Level 15
Apr 3, 2025 3:14:36 PM

Did you get a separate 1099R for the QCD?  

New Member
Apr 3, 2025 4:11:05 PM

I did not receive a separate 1099R for the QCD. I had a incorrect RMD amount, it was actually $66,000,0 not $76,000. Thanks to your help I was able to get this sorted out. Thanks again.