RMD Due by Dec 31, 2o25 question please

[Ikigai]

BOX 7  IRA SIMPLE IS CHECKED  ,  TAXABLE AMOUNT IS 6800.00 .     They figure it out for me for RMD, and I get monthly payments.   So would my RMD by dec 31 2k25 also be 6800?   This is the entire distribution for 2025 and the same listed on my 1099R ?   Thank you.    Also, do you know if I am already getting monthly distributions, is it too late to ask them to withhold tax, or should i just save it and pay at end of year?

[DavidD66]

If your financial advisor or investment company calculated your RMD for you and based your distributions on that, then in TurboTax, on the form 1099-R for RMD withdrawals, answer that The entire distribution was an RMD then on the following page, to the question What is the RMD for your account? enter the amount of the distribution from that IRA account.

By doing this, you are telling TurboTax that all RMDs are satisfied and TurboTax will not calculate any penalty. The information you entered in TurboTax is to enable TurboTax to calculate any penalty where applicable, and is not reported to the IRS. 

If you want to start having tax withheld from your retirement distributions you can start doing so for 2026.  Just ask your advisor or whoever is helping you with your financial accounts.  Having tax withheld or paying at the end of the year is a choice.  If you are having to pay a penalty for underpayment you should consider having tax withheld.  If not, it doesn't make any difference.