Why is TT adding an "additional tax on IRAs" when I took the RMD? TT is adding a 25% penalty even when I took the entire RMD. When I put RMD at $0, the penalty goes away.
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Why is TT adding an "additional tax on IRAs" when I took the RMD? TT is adding a 25% penalty even when I took the entire RMD. When I put RMD at $0, the penalty goes away.
Note - this is the only RMD I have.
posted
March 12, 20259:15 AM
last updated
March 12, 20259:15 AM
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Why is TT adding an "additional tax on IRAs" when I took the RMD? TT is adding a 25% penalty even when I took the entire RMD. When I put RMD at $0, the penalty goes away.
That section was recently updated, so I suggest you delete the 1099-R and carefully re-enter it. You should not be penalized for properly taking your full RMD.