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Level 2

Question

RMD

Forum|Forum|1 year ago
February 27, 2025
1 reply
1 view

If I withdraw more than my RMD in my 403-B, and it is over the allowable $20K for NY State

How do you answer this in TurboTax

Alumni - Expert

Alumni - Expert

If you withdraw more than your Required Minimum Distribution (RMD) from your 403-B and it exceeds the $20,000 exemption for New York State, here's how to handle it in TurboTax:

Open your return and go to the Federal section.
Navigate to the Wages & Income section.
**Scroll down to Retirement Plans and Social Security and select Start or Revisit next to IRA, 401(k), Pension Plan Withdrawals (1099-R).
Enter your 1099-R information: Follow the prompts to enter the details from your 1099-R form.
Answer questions about excess and indicate the amount over the $20,000 exemption: TurboTax will guide you through the process of reporting the taxable portion of your distribution.

For more detailed guidance, you can refer to the TurboTax Community support page.

robi7Author

Level 2

re: your No. 5 answer. :

there are no questions about EXCESS or anything about OVER $20,000

robi7Author

Level 2

Your No. 5. Answer questions about excess and indicate amt over $20,000

There is no entry in TurboTax about EXCESS or AMOUNT OVER $20,000