Maybe it's me but TT online is terrible. I've used the desktop version for 10+ years but the online app is a disaster. It's the Win 10-11 issue. Anyway, form 5329- I'm in my mid 80s so I've been taking out my required IRA MRD since I turned 70 or so.. Last year I got hit with the additional taxes bit and again this year. Last year was the first time I took out the QCD (charitable deduction) and the first time I got hit with the additional taxes. Ditto this year but it took me awhile to dig into where the form etc is on the online format. I couldn't access the details until I paid for the program this year. Form 5329 Part IX Line 52b asks for the MRD for 2025, no problem. Line 53B asks for the amount distributed to you. Should be no problem but for some reason Line 52b is picking up the required MRD and adding in the QCD. The difference between Lines 52b-line 53b is the QCD. As a result the non taxable portion is getting taxed 25%. The IRA 1099 lists the figure that appears on line 53b which is the required MRD. The figure on line 52b is showing up as the required MRD plus the QCD. Form 1040 line 4a shows the required MRD which is Line 53b. 1040 line 4b shows the MRD minus the QCD. Something isn't right. There was a question on the 1099 where it asked if funds went to a QCD and how much. Could that be the issue? Also you check the QCD box on Form 1040 Line 4aC2. Any thoughts on this? Hope this isn't confusing. I might have to amend last year's filing and correct this year's document.
