If you do not know what your RMD is, contact your financial advisor to assist you.
If you are being prompted to make an RMD entry, it may mean that you are required to take a distribution due to your age.
Required Minimum Distributions (RMDs) are mandatory withdrawals from retirement accounts starting at the age of 73.
If you are now at the age, but did not take the distribution, here are a few things to know:
- You must immediately take the distribution to minimize penalties, which are 25% of the shortfall, or 10% if corrected within two years
- The first RMD must be taken by April 1 of the year following the year you reach age 73
- Subsequent RMDs are required by Dec 31 annually
Once you know your RMD, here are the steps to follow to enter the RMD information in TurboTax:
- Return to your 1099-R entries by clicking Review to the right of IRA, 401(k), Pension Plan Withdrawals (1099-R) in the Federal Wages & Income
- Click on the pencil to the right of the 1099-R
- Click Continue through the entries you've made
- "Let's get more information about your Required Minimum Distribution (RMD), enter the amount of your distribution as your RMD that was due by December 31, 2025, Continue
- On the next screen, "How much of this distribution applied to your December 31, 2025 RMD?", select "The entire distribution applied...", Continue
- When you reach, "Review your 1099-R summary, Continue (not the pencil)
- When you reach, "Let's go over any required minimum distributions (RMD)", Continue (not the pencil)
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
