Annual RMD input accumulated mistakenly?

vlee194546 — Sun, 02 Feb 2025 22:15:34 GMT

I have two IRA accounts (two 1099-R), my annual combined required RMD is 40,000.... During the step-by-step answering, there is the question "What was the required minimum distribution for Vincent's account in 2024"....

From my account A, my 1099-R shows withdraw $30,000; to the question asked, I typed in $40,000.

From my account B, my 1099-R shows withdraw $10,000; to the question asked, I typed in $40,000.

I answered both with $40,000 since the question was phrased as the "total" required RMD in 2024....Then, TurboTax calculated my required RMD as $80,000 and assessed a huge tax. Maybe Turbo Tax should rephased the question to something like ".... required RMD from ALL REQUIRED retirement accounts in 2024"? Is my understanding correct?

Re: Annual RMD input accumulated mistakenly?

AmyC — Sat, 08 Feb 2025 23:42:53 GMT

Yes, this area was redesigned and is trying to identify who did not take the full RMD. Great job understanding and knowing how to change your answers!

topic Annual RMD input accumulated mistakenly? in Retirement tax questions

Annual RMD input accumulated mistakenly?

Re: Annual RMD input accumulated mistakenly?