IRA distributions in 2021 are reported to you by the plan administrator on Form 1099-R.
Enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R
On the screen Did you get a 1099-R in 2021? Click on Yes
On the next screen click on Continue
On the screen Let's import your tax info Click on Change how I enter my form
On the screen How do you want to add your 1099‑R? Click on Type it in myself
On the screen Who gave you a 1099-R? select the type of 1099-R you received and Continue
To enter your retirement income, Go to Federal> Wages and Income>Retirement Plans and Social Security>IRA 401 k) Pension Plan Withdrawals to enter your 1099R.
You should have a 1099R for that.
The easiest way to get to the 1099-R entry screen is to simply search for 1099-R (upper- or lower-case, with or without the dash) in your TurboTax program and then click the "Jump to" link in the search results.
Enter a 1099R under
Federal Taxes Tab or Personal (Home & Business)
Wages & Income at the top
Then scroll way down to Retirement Plans and Social Security,
Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit
There are 4 boxes. Be sure to pick the right box for the kind of 1099R you got.
If you are filing a Joint return be sure to pick which person it is for.
Don't enter the bank or broker name and don't try to import it. It is just as fast and easy to manually enter it. At the bottom pick - Change How I enter my Form
Then on the next screen pick I'll Type it in Myself
Trouble with CX getting RMDs to function correct in TT.
One of the issues is matching the amounts to the "R"
One of his distributions included "inkind" distribution. How will this be recorded?
EX: RMD =7500
Dist cash = 6100
Rest was inkind How sould this be recorded?
You could indicate in TurboTax that the required RMD is equal to the Distribution.
Keep documentation for the balance of RMD distribution in-kind. (What was the in-kind received? If cash, needs to be reported as Other Income).
The IRS allows the required annual RMD to be taken over several accounts.
Here's more info in IRS Requirements for RMD's.