topic ROTH distribution in Retirement tax questions

TT does not group 1099-Rs to get total distribution to satisfy RMD requirement

stevemfreeman — Sat, 25 Jan 2025 21:40:57 GMT

I have 3 IRAs with different distributions from each. Turbo tax is trying to give me help filling out a waiver because the first of the 3 1099-Rs was for a small amount. The other 2 distribution more than cover the total RMD required. How do I get TT to understand that it is the total amount of distributions, not each one individually that the IRS wants you to meet.

Re: TT does not group 1099-Rs to get total distribution to satisfy RMD requirement

VolvoGirl — Sat, 25 Jan 2025 21:41:43 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: TT does not group 1099-Rs to get total distribution to satisfy RMD requirement

stevemfreeman — Sat, 25 Jan 2025 21:44:16 GMT

To be sure I understand correctly: F

or each 1099-R when it asks for what the RMD is for 2024 I should calculate what it is for just that distribution and then do the same for each other 1099-R?

Re: TT does not group 1099-Rs to get total distribution to satisfy RMD requirement

VolvoGirl — Sat, 25 Jan 2025 21:45:47 GMT

Yes but you don’t need to calculate it. Just enter the same amount that’s in box 1.

ROTH distribution

stevemfreeman — Sat, 25 Jan 2025 21:47:48 GMT

I took funds out of a ROTH this year and TT is now asking: Report XXXXXX's net regular contributions prior to 2024. Does that mean it expects me to have a record of each contribution for the past 30 years? If so, where would that information come from and what If I do not have it?