I have two RMDs each from a different institution. The sum of both is my total RMD. In 2024 I took enough withdrawals to cover my total summed RMD. From one I took more than their reported RMD and another I took less than their reported RMD. When I put this info into TurboTax it says I didn't take enough withdrawal
in 2024 to cover my RMD. The Turbotax program doesn't seem to sum the the two withdawals and match them with the sum of the two RMDs.
Any help from someone would be appreciated.
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Just tell the program you took the full RMD from each. The program wants to know if it should calculate a penalty for failure to take the full RMD. You are allowed to withdraw as you did. The question does not go to the IRS.
I have the same problem. I can get around the penalty by telling Turbo Tax that my RMD is equal to the amount I took out on each account. Does this cause any problems with Turbo Tax calculations or with the IRS? This sounds like a very simple problem for Turbo Tax to fix. Why don't they fix it?
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