where do I report bugs of Turbotax in calculating 2 IRAs?

[bob10514]

I withdrew from 2 IRAs, one less than RMD, and the other more than RMD, whereas sum of withdraws = sum of RMSs, but Turbotax keep saying I was under-withdraw and want to calculate the under-payment penalty....

[MarilynG1 · Accepted solution]

If you withdrew your total Required RMD for 2024 between the two distributions, when entering the 1099-R for the account you under-withdrew, indicate in TurboTax that the distribution was 'all RMD' and that the RMD amount was the same amount as your withdrawal.

For example, you withdrew 5K but the RMD for that account is 6K, enter the RMD as being 5K, so as not to incur the penalty.

For the over-withdrawal, say you had a distribution of 10K, and the RMD for that account is 5K, enter that the RMD amount is 6K (5K plus 1K from under-withdrawal in other account).

Here's more info on IRS Requirements for RMD's. 

[fanfare]

Your underwithdrawal rule should work in both cases (underwithdrawal and overwithdrawal)

@MarilynG1 

[DavidJer]

This is a pretty poor work around.  You should fix the program so it handles multiple IRAs correctly.

[bob10514]

I checked my previous tax filings using Turbotax. In 2016 I did the same thing on 2 IRA RMDs,  IRA1   RMD  $A      Withdraw   $B   where A>B

IRA2   RMD  $C      Withdraw   $D   where C<D, but A+C = B+D

I entered the A,B,C, D, in the boxes, and the Turbotax calculated correctly in 2016 

So this is a regression. 

In 2024 Turbotax I first entered the data as above, and got the message of "we will help you with under withdraw tax calculation",

So I followed the workaround enter data as 

IRA1   RMD  $B      Withdraw   $B    

IRA2   RMD  $D      Withdraw   $D

But then after entering all the 1099-R data, I got the message saying my total RMD is A+D, not A+C.....

I usually file my tax at the end of February, hopefully these got fixed before that.