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denesyw
New Member

We both had RMD's We paid $1,200 in est tax for 2024 How are they reported?

 
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2 Replies

We both had RMD's We paid $1,200 in est tax for 2024 How are they reported?

To enter, edit or delete estimated taxes paid (Federal, State, Local) -

Click on Federal Taxes (Personal using Home and Business)
Click on Deductions and Credits
Click on I'll choose what I work on (if shown)
Scroll down to Estimates and Other Taxes Paid
On Estimates, click on the start or update button


Or enter estimates paid in the Search box located in the upper right of the online program screen. Click on Jump to estimates paid

SabrinaD2
Employee Tax Expert

We both had RMD's We paid $1,200 in est tax for 2024 How are they reported?

To report both your Required Minimum Distributions (RMDs) and estimated tax payments in TurboTax, follow these steps:

 

If Estimated tax not part of your 1099 see comments from @DoninGA

 

Reporting RMDs & Estimated Tax

  1. Enter Form 1099-R: Associated with RMDs - use the steps below and TurboTax will walk you through the steps to report. Assuming the estimated tax was paid at time of withdrawal and is on your 1099-R.
    • Be Sure you are logged In
    • Open or continue your return.
    • Click on this link to go directly to 1099R
    • Answer "Yes" to "Did you get a 1099-R?" and enter the details from your form.
      • Be sure to complete Box 4 - Federal income tax withheld - if estimated taxes withheld here.
    • TurboTax will ask if the distribution was an RMD. Answer accordingly.
    • Once you are done with one you can click the + sign to add another

For more detailed guidance, refer to the TurboTax article on RMDs

 

Please reach ou.t if additional support is needed

 

[Edited 02/16/2024| 2:46 pm PST] @denesyw

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