I had a huge issue with RMD and how to post with Turbo Tax, I spent hours trying to answers the questions correctly and try to get it to add up in the end. Several accounts with RMD and one account that we are required to take a distribution but they investment doesn't give us an amount we have to do the math ourselves. The software and the questions are confusing. There should be an area where you post the total RMD you are required to take for the year on all your retirements accounts. Also a way to show where you took this money from whether it's more or less than the distribution required in that account. I started using turbo tax last year, but I don't see future purchases. What I have now according to turbo tax could be filed electronically but it isn't really the accurate picture. OUR RMD is more than what it shows. Huge Problem
There was an issue in TurboTax with the RMD calculation when multiple accounts were involved. A program update was released on 2/21/25, resolving this issue.
Please review your 1099-R entries in TurboTax and complete all of the follow-up interview questions. Once you are done updating your 1099-R entries, click Continue and answer those follow-up questions. Once you have completed these steps, the extra tax should be removed.
If you’re still experiencing an issue, please post here so that we can assist you further.