topic TurboTax 2024 - new question about RMD in Get your taxes done using TurboTax

TurboTax 2024 - new question about RMD

jcannon03 — Sat, 11 Jan 2025 22:08:30 GMT

It seems like TT 2024 is asking the question "Required Minimum Distribution Amount" after you enter the RMD amount taken from an account and answer that the total amount is RMD. Is it asking for the total amount of RMD for that individual IRA account or the total RMD for all the IRA accounts?

Re: TurboTax 2024 - new question about RMD

VolvoGirl — Sat, 11 Jan 2025 22:41:00 GMT

It says this account. So I would use only that 1099R. I tested, I entered a 1099R for 2,000 and a 1099R for 8,000. After I enter the 8,000 distribution, if I answered the total RMD of 10,000 (for both) it says I didn't take enough. So I need to enter only the 8,000.

Re: TurboTax 2024 - new question about RMD

RMenschel — Sat, 25 Jan 2025 00:12:48 GMT

So in my case, with:

Rollover IRA 1, Required RMD 16,415, taken RMD 11,680

Rollover IRA 2, Required RMD 12,333, taken RMD 17,069

Combined required 28,748, taken RMD 28749 (difference due to rounding)

TurboTax says because IRA 1 taken RMD is less than required RMD, it wants to generate form 5329-T and pay the penalty tax that I do not owe. How do I fix this?

Re: TurboTax 2024 - new question about RMD

VolvoGirl — Sat, 25 Jan 2025 00:19:39 GMT

For the RMD questions just enter the amount that’s on that one 1099R box 1 not the total RMD. It’s asking for each 1099R this year.

Re: TurboTax 2024 - new question about RMD

cpschade — Thu, 30 Jan 2025 18:00:20 GMT

So in other words, lie to Turbo Tax.

I have the same issue and I am not impressed with this "solution." The amounts in my 1099 Box 1 are NOT the RMDs for most accounts. TT should ask for the TOTAL RMD amount across all accounts, and not a falsified RMD amount for each account.

The current situation is not acceptable.

Re: TurboTax 2024 - new question about RMD

jackmac45 — Wed, 05 Feb 2025 21:24:53 GMT

I have the same problem. My line 1 401k distribution is greater than my RMD. The only way it works is if my Total Distribution equals my RMD. This is unacceptable, and a glitch in the program. You're right - you have to lie to Turbotax so you don't get the error message. My question is: How do you get Intuit to fix this?

Re: TurboTax 2024 - new question about RMD

Badh4s3 — Thu, 06 Feb 2025 21:37:11 GMT

I have the same issue multiple IRA accounts. Some i took too much RMD while others did not. There does not seem to be a good method to determine if the total RMD was satisfied. Seems like a code change is required.

Re: TurboTax 2024 - new question about RMD

STAR49 — Wed, 12 Feb 2025 03:08:03 GMT

I totally agree with you - TurboTax programmers need to make this fix a High Priority and send out an update before the end of this week!!

Re: TurboTax 2024 - new question about RMD

DawnC — Wed, 12 Feb 2025 03:27:00 GMT

The screens you see are being updated; see the link below to sign up for notification. Some TurboTax customers may receive an error, RMD amount should not be less than the distribution amount that is for the RMD. Check this entry, when the RMD and the amount applied to RMD are the same. @jackmac45

We’re currently working to resolve this issue. If you’d like to receive progress updates, sign up using this TurboTax FAQ.

Re: TurboTax 2024 - new question about RMD

GLG1966 — Fri, 14 Feb 2025 01:36:24 GMT

I agree as I had the same problem with the ask on an account that does not require RMD's (my CalPers pension) but I was able to get through it by entering the RMD amount under another account. I find this TT Deluxe question very misleading and caused much consternation. Hope this is changed for next year.

Re: TurboTax 2024 - new question about RMD

taxlady28 — Fri, 14 Feb 2025 01:56:56 GMT

There is no law about lying to TurboTax. I just marked that it was all RMD and cleared the error so I could file. It is a bug and will get fixed some day.

Re: TurboTax 2024 - new question about RMD

majorstwo — Sun, 16 Feb 2025 16:26:46 GMT

It needs to be fixed now by Intuit NOT "someday". That is a ridiculous solution. INTUIT FIX IT NOW !!!!!

Re: TurboTax 2024 - new question about RMD

rmd 3 — Fri, 28 Feb 2025 02:54:50 GMT

I saw messages in here about coding problem with RMD in turbotax. After more than 8 painful calls I finally got to someone who could help. Yes there is a coding problem when more than one RMD. Workaround is to add all of them up and put on only one of your RMDs. (delete the others) On mine everything was the same except one had box checked that said tax not determined. But that had no impact. Once I hit enter my tax went up another 1000+ and there was some odd message about amounts not being correct so I shut down for the night and screamed. When I went in today the whole whole thing was resolved and my tax was lower than the original. I had some other issues to correct and I checked all the numbers carefully but it was all correct and I am able to file. It was painful but I got it fixed. Hope this helps.

Re: TurboTax 2024 - new question about RMD

rmd 3 — Fri, 28 Feb 2025 02:56:52 GMT

I left a message - when I went in today issue had resolved and no messages

Re: TurboTax 2024 - new question about RMD

angelbabygirl — Fri, 28 Feb 2025 20:33:07 GMT

I am having the same issue and I will not lie to the IRS as some have suggested. Has anyone received. RESPONSE FROM TT Yet on timing for TT to correct this glitch.?

Re: TurboTax 2024 - new question about RMD

DanaB27 — Sat, 01 Mar 2025 16:53:16 GMT

The RMD section has been updated please go back to your 1099-R entry and review the follow-up questions. At the end of the interview you should be able to select that you took all of your RMD.

Please note, if you met all of your RMD for 2024 then Form 5329 doesn't get filled out and isn't sent to the IRS. You might see TurboTax entering information on the "Additional Retirement Account Smartsheet" on Form 5329 (if you switch to forms mode in TurboTax Desktop) but this Smartsheet doesn't get sent to the IRS.

Please follow these steps in TurboTax Online:

Login to your TurboTax Account
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
Continue until "How much of the $XXXXX was a RMD?" screen and select "Only part of this distribution was a RMD" and enter the amount of RMD /or select "The entire distribution was an RMD" (if this distribution includes RMD for other IRA accounts then you included the amount here)
Enter the RMD amount for this account on the "Let's get more information about your Required Minimum Distribution (RMD)" screen
On the "Review your 1099-R info" screen click "Continue"
On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable.

In TurboTax Desktop:

Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
On the "Required Minimum Distribution" screen enter RMD for this account
On the "How much of This Distribution Applied to your December 31, 2024 RMD" select "Some of this distribution…" and enter the RMD amount / or select "The entire distribution applied…" (if this distribution includes RMD for other IRA accounts then you included the amount here)
On the "Your 1099-R Entries" screen click "Continue"
On the "Did You Miss a Required Distribution From Any Retirement Accounts?" screen select "None of these plans failed to withdraw the RMD" if you met all of your RMD for 2024, otherwise select what is applicable.

@angelbabygirl

Re: TurboTax 2024 - new question about RMD

Jarhead_68 — Sat, 01 Mar 2025 17:01:43 GMT

Agree. I rolled over an IRA from one broker to a new broker, and now TT assumes I had two separate IRAs with double the RMD but only distributed half what I should have taken. You can imagine how that blew up my tax bill. Like others, I can lie to TT by telling it the old account had the same RMD as the distribution made to the date of transfer, and adjusting down the RMD on the second, new account by that amount.

AND then, a second issue: neither brokerage showed any amount for state distribution, but TT flagged an error because that box 16 was empty. TT sent me to a work sheet wanting an amount, but again, I don't want to lie to TT--if the programming is this bad, you can't be certain how they will run the final calculations on your return with fudged numbers. IRAs are not some esoteric foreign partnership levered up with cryptocurrency; you'd think TT would have a handle on basic IRA taxation by now.

Re: TurboTax 2024 - new question about RMD

Jarhead_68 — Sat, 01 Mar 2025 17:10:05 GMT

I just replied with a similar problem--one account rolled over from old broker to new broker. TT assumes two separate accounts (as in your example) and doubles the RMD for 2024. Like others, I can fix it by lying to TT, but have no confidence the final return will be accurate when filed.

Re: TurboTax 2024 - new question about RMD

debkrech2010 — Sat, 08 Mar 2025 02:09:11 GMT

I don't get those followup questions. Went back and even shut down turbotax and reopened thinking i didn't have latest version but no luck it said I did. I did find away around the problem of one account covering for others but it required manually adjusting the 5329 which I shouldn't get in the first place.

Re: TurboTax 2024 - new question about RMD

DawnC — Sat, 08 Mar 2025 02:17:08 GMT

Delete the 1099-Rs and re-enter them. Don't file with Form 5329 if you don't owe a penalty. @debkrech2010

How to delete forms in TurboTax Online

How to delete forms in TurboTax Desktop

Where do I enter a 1099-R?