topic Re: Required Minimum Distribution in Retirement tax questions

Required Minimum Distribution

MtMonaska — Fri, 21 Feb 2025 20:36:21 GMT

I was required to start taking my RMD in 2024. When I took a distribution from my 401k the total amount included more than the RMD. In TurboTax I input the RMD amount when requested and checked “No” to the question that the entire gross applied to the RMD. My question relates to the “RMD Excess Accumulation Worksheet” box. TurboTax seems to think I have an excess RMD (like I didn’t take enough but in fact I took more than enough). I don’t know how to get past this. Does anyone have a work around?

Re: Required Minimum Distribution

DanaB27 — Sat, 22 Feb 2025 16:08:16 GMT

If this Form 1099-R included part of the distribution you need to select "Only part of this distribution was a RMD" on the "How much of the $XXXXX was a RMD?" screen and enter the amount of RMD.

Also, make sure you click continue after all Form 1099-R are entered. Continue until the "Did You Miss a Required Distribution From Any Retirement Accounts?" and select "None of these plans failed to withdraw the RMD".