topic 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329? in Retirement tax questions

2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

dlynch2710 — Tue, 03 Feb 2026 05:29:35 GMT

Since 2018 in Turbotax Deluxe, I have entered two separate 1099-R IRA RMD distributions, checked the box "Part of the distribution was an RMD" under each 1099-R form, then entered the RMD amount. Did same for 2nd RMD & both added up to the total RMD distribution required. In this 2024 Turbotax Deluxe, it allows me to do all the same, but doesn't seem to be adding the two 1099-R RMD $ entries to equal what was required in total RMD distribution & now wants me to pay additional taxes on form 5329. Only shows one of the two 1099-Rs on Form 5329. Why isn't 2024 Turbotax totaling the two separate 1099-R RMD entires to equal the RMD total required distribution?

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

Bsch4477 — Fri, 24 Jan 2025 00:23:51 GMT

When you report your 1099-R you will be asked what amount was RMD. Be sure you answered the full amount of the withdrawal was RMD in each instance.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

dlynch2710 — Fri, 24 Jan 2025 02:47:26 GMT

Thanks for your assistance. I changed the 1099-R's to reflect the full amount withdrawal was RMD in each instance.

It didn't change the amount due inTurbotax and Form 5329 still shows up. It appears Turbotax is NOT picking up my two1099-R entries & totaling them to equal my 2024 RMD full amount distributed.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

VolvoGirl — Fri, 24 Jan 2025 02:57:46 GMT

No. Turbo Tax changed this year. When it asks about the RMD it is only asking for that one 1099R. You need to enter the amount in box 1 on that 1099R for the RMD, not the total RMD for both.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

dlynch2710 — Fri, 24 Jan 2025 03:42:19 GMT

Thank you so much! This worked. I changed each RMD to reflect only the amount distributed for each 1099-R individually & now it's correct. No 5329 form shows up. Appreciate your input.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

kzp00h — Thu, 30 Jan 2025 13:58:04 GMT

I have two 1099R for two IRAs. The first IRA I withdrew more than the RMD required. The second IRA I withdrew less than the RMD required. However, the combined withdraws exceed the combined RMDs. I checked the box for each that the entire withdraw was for RMD but Turbo Tax is adding taxes to the IRA that I withdrew less than the RMD. How do I correct it?

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

VolvoGirl — Thu, 30 Jan 2025 16:03:06 GMT

Did you see my post above? Turbo Tax changed this year. When it asks about the RMD it is only asking for that one 1099R. You need to enter the amount in box 1 on that 1099R for the RMD, not the total RMD for both.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

dlynch2710 — Thu, 30 Jan 2025 17:24:14 GMT

Yes, I did receive your answer and it worked for me! Thank you so for your help. (I send note back to you the same evening, but I must of posted it incorrectly. I'm new to this community & still learning how to use.)

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

robbarkin — Thu, 06 Feb 2025 20:18:05 GMT

I had an IRA and a tax exempt annuity at the end of 2023. The IRA required a RMD of $3758 and the annuity required a RMD of $6366 for 2024. I combined both accounts into one in May of 2024. From January to April 2024 I withdrew $4000.00 from my annuity and $0 from the IRA, since I closed it . From May 2024 thru December 2024 I withdrew $8000 from the new combined account. I believe the combination of withdrawals should satisfy my RMD for 2024, but am not sure how to report this on my tax return. When I enter the amounts, the TurboTax indicates that I did not withdraw enough and taxes the deficit.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

KMorris-1829 — Fri, 07 Feb 2025 19:41:55 GMT

I see your suggestions, but that doesn't seem to be working for me. I have 2 RMDs and 2 forms. I'm entering the separate RMD amounts for each form. Turbotax is correctly summing my total RMD amount. All my RMDs were taken within the appropriate calendar year. But I took $6K from an account that had an RMD of $20K, so Turbotax is telling me I have to pay taxes on the balance, when my other account/form makes up the difference. Or use that correction window option, which isn't accurate.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

snydertm — Sat, 08 Feb 2025 16:45:55 GMT

I have the same problem. turbotax is not totalling up the distributions and the required RMDs correctly. This years turbotax seems very buggy. Works ok if you take all of each RMD from the IRA, but if you take small amounts from one and take the rest of the RMD from several accounts the totals don't add up and the tax is incorrect.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

IwIch2baw — Sun, 09 Feb 2025 17:53:47 GMT

It appears the only way to get around the situation where you satisfy your total RMD by taking more that the required RMD from one account and less than the required RMD from another is by reducing the RMD entries to values not exceeding the amount taken from any account.

I've used Turbotax for the last 20 years. This will be the last time I use Turbotax unless they recognize that this is a software bug and correct the problem soon. I don't care to file my federal taxes with falsified RMD entries just to get around a calculation error.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

snydertm — Sun, 09 Feb 2025 18:31:15 GMT

This just seems like an audit issue. I agree about this being the last time I use turbotax. Some idiot decided to "fix" something that wasn't broken and not only broke it, but seems to be unable to fix it.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

dshafer — Sun, 09 Feb 2025 20:39:12 GMT

I have done as you stated and TT still does not recognize it and is calculating a penalty

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

ml12 — Sun, 09 Feb 2025 23:08:50 GMT

I am having the same issue. I received two 1099-Rs and entered them both but Turbotax is not totaling them. What am I not getting?

TT just suggested that I wait to file my taxes until they have a fix for this issue. I am also frustrated with the quality of the coding this year.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RMD $ distribution and shows additional taxes are due on form 5329?

dshafer — Sun, 09 Feb 2025 22:48:50 GMT

You are not doing anything wrong, it is a TT software issue that they seem unwilling to fix.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RM...

DaveF1006 — Tue, 11 Feb 2025 21:06:08 GMT

This is an known issue that is currently being investigated. Please select this link to sign up for updates so we may notify you when this will be corrected.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RM...

craigmart — Wed, 12 Feb 2025 21:19:41 GMT

There are two threads describing this RMD problem. The other one is here...

https://ttlc.intuit.com/community/retirement/discussion/i-have-multiple-iras-in-total-i-have-withdrawn-my-full-rmd-but-not-the-full-rmd-from-one-of-my-three/00/3437414

The other one has individuals who think this issue is not only unresolved, but not being acted upon. Would you please post your notification link to that thread so they can be in this loop as one group? Thank you

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RM...

Commentsrarely — Wed, 12 Feb 2025 23:40:34 GMT

Thank you for pointing out the parallel thread and the sign-up page. This is the first real encouragement I've had since I realized there is a bug.

Re: 2024 Turbotax Deluxe not recognizing 2 separate IRA 1099-R RMD entries that equal the full RM...

pdtannen — Thu, 13 Feb 2025 04:52:49 GMT

I hope you come up with a solution soon. This is very frustrating. Makes me wonder what other errors have crept into TT this year.