I inherited a Roth IRA and so now I have a Roth IRA BDA. I am taking RMD (required minimum distribution) and in my situation my RMD per year is based on my life expentency. I know that this is not taxed. Over the past few years I have had no problem with desktopTurboTax.
This year (tax year 2024), I am getting an error that needs to be corrected on the 1099-R form (worksheet). It is asking me to enter a "Required RMD Amount". However, when I enter this, as well as entering the "Amount Distributed in 2024" (which is the same amount), the worksheet then wants me to answer the question,"If this is a distribution from a traditional IRA or qualified retirement plan ....". However, it is neither - it is a Roth plan. So I'm not sure how to answer the questions. Easy step does not address this issue.
Thanks in advance for any suggestions.
Hi fanare,
The code in Box 7 is T.
The IRA/SEP/SIMPLE box is not checked.