still wondering

[Williek]

do I check the "no" box if I don't want to fill out the waiver form 5329.....the 1099R is loaded and showing that I took all RMDS in the calendar year....an answer would be nice...check the "no" box or not...because if I don't I can't move forward....been stuck for a week waiting for the proper answer..

[DanaB27]

To clarify, you took all your RMD for 2024? If yes, then you should not get the question about the waiver. Please review your entries.

You are not required to file Form 5329 if you met all of your RMD for 2024. TurboTax will enter the information in the "Additional Retirement Account Smart Worksheet" to check that you met the RMD but this will not be sent to the IRS.

Please follow these steps in TurboTax Online:

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. Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen
5. Continue until "How much of this distribution applied to your December 31, 2024 RMD?" screen and select "The entire distribution was an RMD" /or select "Only part of this distribution was a RMD" and enter the amount of RMD (if this distribution includes RMD for other IRA accounts then you included the amount here)
6. On the "Here's your 1099-R info" screen click "Continue"
7. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable. 

In TurboTax Desktop:

1. Click on "Search" on the top right and type “1099-R”
2. Click on “Jump to 1099-R” and enter your 1099-R
3. On the "Required Minimum Distribution" screen enter RMD for this account 
4. On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "The entire distribution applied…"  / or select "Some of this distribution…" and enter the RMD amount (if this distribution includes RMD for other IRA accounts then you included the amount here)
5. On the "Your 1099-R Entries" screen click "Continue"
6. On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable. 

If you have multiple IRAs but took the total RMD only from one IRA then select "An IRA..." on the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen and click "Continue". On the "Total RMD for all other IRAs" screen enter the RMD from your other IRAs (where you didn't take a distribution from).

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

[fanfare]

If TurboTax is asking if you want a waiver of penalty, then you have a penalty.

A penalty applies when  a) you did not take the minimum, or,  b) TurboTax miscalculates.

TurboTax has problems with RMD this year.

@Williek 

[Williek]

correct....my RMD's were brought across electronically from Fidelity....they show that they are in turbotax....but turbotax  sez that is not true....why should I fill out a waiver when everything is entered corrected....the waiver is admitted guilt....I am not guilty..

[DanaB27]

You might want to try to delete and manually reenter them and see if this removes the penalty.