topic Re: so when will the rmd calcs be fixed in Retirement tax questions

so when will the rmd calcs be fixed

tklamt — Sat, 25 Jan 2025 02:01:22 GMT

so when will the rmd calcs be fixed

Re: so when will the rmd calcs be fixed

VolvoGirl — Sat, 25 Jan 2025 02:02:53 GMT

What problem are you having? 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: so when will the rmd calcs be fixed

tklamt — Sat, 25 Jan 2025 04:11:19 GMT

it asks the questions for every 1099-r I have. i have several but only one is an IRA. It requires RMD. For some reason, TT adds up the taxable amounts for all of the 1099-r. Then it tells me I owe taxes for the penalty.

is there a reply?

tklamt — Mon, 27 Jan 2025 16:55:00 GMT

is there a reply?

Re: is there a reply?

SteamTrain — Mon, 27 Jan 2025 18:01:23 GMT

Supposedly it is being worked on.

BUT...for the 1099-R forms that are NOT from an IRA.

(Assuming you did no rollovers during the year)

1) Edit each of those (that are NOT from an IRA) and on the follow-up pages after the main 1099-R form, just indicate that all the distribution was the RMD, and that the RMD taken is the amount showing in box 1.

2) then edit the 1099-R for the IRA, and if it was all an RMD, indicate that and say the box 1 $$ was the RMD amount.

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Do not try to combine the RMD $$ total for the IRA is including the non-RMD 1099-R forms....the IRA has to be figured based solely on your IRA accounts.

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Try that and see what happens.....that is, unless you did some rollovers during the year, then I'm not sure how to do it and get it working right....(haven't tried)