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highcover
New Member

TurboTax is showing an RMD shortfall and this is not correct. I withdrew all that was required. How can this TT error be corrected?

 
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2 Replies
MinhT1
Expert Alumni

TurboTax is showing an RMD shortfall and this is not correct. I withdrew all that was required. How can this TT error be corrected?

If you are sure that you have satisfied all RMD requirements, then in TurboTax, on each form 1099-R for RMD withdrawals, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.

 

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS.

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highcover
New Member

TurboTax is showing an RMD shortfall and this is not correct. I withdrew all that was required. How can this TT error be corrected?

Thank you for the information.  I had already entered the information in both places correctly, TT still determined that I had $200 for a penalty.  This is a disadvantage to TurboTax.  The computer always wins, even when it's wrong.

 

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