RMD - Multiple IRA Accounts

[mitchden1]

I have my IRA's in 4 different financial institutions. Each financial institution advises me of the RMD, however I take the total RMD from one account/financial institution.

I received a 1099-R from the financial institution that I took the full RMD from. Is there a Turbotax form that shows my total RMD obligation? I believe each financial institution advises the IRS of my obligation, however, it's not shown anywhere on my tax return. How does the IRS know that I took the correct RMD?

[Mike9241]

as you know the IRS gets notified by each institution of the RMD amount. it also gets a copy of the 1099-R with the IRA box checked and code 7. so all the IRS computers have to do is add the amounts from each institution and compare the total to your reported amount on line 4a on 1040 which will also be checked against the amount reported in box 1 of the 1099-R by default the amount would be applied against your RMD.   (nothing prevents you from taking more than the RMD)

[Hal_Al]

Q.  Is there a Turbotax form that shows my total RMD obligation? The RMD amount is not shown anywhere on my tax return. 

A. No.  You have to do that yourself.

Q. I believe each financial institution advises the IRS of my obligation.

A.  Not exactly.  The financial institution only reports your account balance on form.  But, there is a check box on that form "RMD Required" .

Q. How does the IRS know that I took the correct RMD?

A.  Mike9241's explanation is essentially all they do.  Keep a copy of your calculation.