topic Required Min distribution - Turbo Tax wants to calculate penalty in Retirement tax questions

Required Min distribution - Turbo Tax wants to calculate penalty

rickbj46 — Thu, 19 Feb 2026 03:00:04 GMT

My 1099R Tax amt is $31,294. Min Req Distribution (from my Fin Planner, Wells Fargo) is $11297. Why a penalty according to TurboTax? My wife Tax amt $3991. Min Req Distribution (again Wells Fargo) $3990. Again Turbo Tax wants to calculate penalty. Is there a problem with TurboTax?

Re: Required Min distribution - Turbo Tax wants to calculate penalty

jtax — Thu, 19 Feb 2026 21:09:33 GMT

To figure out an RMD for you (or your wifes) we would need to know your age as of 12/31/2025 and the value of all your IRAs on 12/31/2024 (the end of the prior tax year). Also, indicate whether the IRA was inherited, as different rules apply.

Or you could just verify yourself with any of the various online calculators, such as

https://www.schwab.com/ira/ira-calculators/rmd

Re: Required Min distribution - Turbo Tax wants to calculate penalty

jtax — Thu, 19 Feb 2026 21:12:16 GMT

Also, it is helpful when giving amounts, as you did from a 1099-R, to say which "box" number the amount is on, rather than "tax amt." I assume that is box 2a, but what about box 1, the 2b checkboxes, or box 7?