RMD Withdrawal

[ddschur1]

I have three IRA’s that require RMD withdrawals, however, I only use 1 of the three accounts to withdraw my entire calculated amount. When I go to enter the total RMD taken, the app asks about the total amount of RMD is required from that one account which is substantially less for that one account than the entire amount I’m required to take. Do I just enter the total of all my 1099-R’s for the total amount which exceeds the required amount from that account or do I do something else? I hope this question makes sense or can be deciphered! Thank you to anyone who responds.

[DanaB27]

Yes, you can take the total RMD from just one account.

Please follow these steps to enter the RMD:

1. Login to your TurboTax Account 
2. Click on "Search" on the top right and type “1099-R”
3. Click on “Jump to 1099-R” and enter your 1099-R
4. Continue until "How much of the $XXXXX was a RMD?" screen, select "The entire distribution was an RMD" (or select "Only part of this distribution was a RMD" and enter the amount of RMD) and click "Continue".
5. On the "Let's get more information about your Required Minimum Distribution (RMD)" screen enter the amount of the RMD from this distribution again.
6. On the "Your 1099-R Entries" screen click "continue"
7. On the "Let's check if you met the minimum distribution requirement" screen answer if you took all necessary RMD

For example, if you took $10,000 from one IRA account to satisfy all of your RMD from different IRA accounts then you select "The entire distribution was an RMD" and then on the next screen enter $10,000. Ignore the fact that the actual RMD for that specific account was less.  

If you have another Form 1099-R where you took less than the RMD for that specific account (because you took more from the other IRA) then you will select "The entire distribution was an RMD" and on the screen enter the distribution amount again.

Please see Can an account owner just take a RMD from one account for additional information.