ERROR On 1099-R RMD Excess Accumulation Worksheet - Type of Account

Ken_123 — Tue, 25 Feb 2025 23:33:54 GMT

I am getting a Red Flag on my 1099-R Inherited ROTH IRA. (It is a non spousal IRA). When I select the type of account (IRA) it flags it as red(See below)

If I select it as 403B it passes(Just an observation).
Box 2B is checked "taxable amount not determined"
Box 7 Code is "T" and the IRA/SEP/Simple is not checked.
I did withhold state and fed taxes (Not needed, I know).

Any ideas on how to make the red mark go away?

Re: ERROR On 1099-R RMD Excess Accumulation Worksheet - Type of Account

MarilynG1 — Wed, 26 Feb 2025 00:08:59 GMT

If IRA is not checked on your 1099-R, uncheck that box. If it's not a 403B (usually retirement account for civil employees), don't check that one either. Can you check 'Other'?

Code T in Box 7 indicates a Roth distribution, exception applies. You should uncheck the box for 'If box 7 code is 2 or 5'.

If you indicated that you inherited this account, and that the Roth account has been open over 5 years in the interview, you're correct that it's not a taxable distribution.

Here's more info on Inherited Retirement Plan Distributions.

@Ken_123

topic ERROR On 1099-R RMD Excess Accumulation Worksheet - Type of Account in Retirement tax questions

ERROR On 1099-R RMD Excess Accumulation Worksheet - Type of Account

Re: ERROR On 1099-R RMD Excess Accumulation Worksheet - Type of Account