First RMD for 2024 Split over 2 years - New verbiage in TT confusing

[nmc51]

Hi – the modified RMD questions/phrasing have me confused. I turned 73 in 2024, so need to take my first RMD for 2024 by April 1 2025. ( yep, plus the one for 2025, I know).   I already took most of the 2024 RMD in 2024, and then took the balance early 2025.    I have multiple Trad IRAs but use only one of them for withdrawals, so only get a single 1099R.

TT is now saying 'we need to know the amount that was required to be distributed by Dec 31, 2024 for this account... Do not include RMDs due on April 1...

RMD due by Dec 31, 2024  - fill in the amount.. $0 ??

Do not include the RMD amount for other accounts...  (for which I have no 1099Rs...)

So, pretend my 1st RMD amount is 1,000,000 and I took 900,000 in 2024 then the remaining 100,000 in Jan 2025.   I do not list the 900k???  Would this not leave me somehow  in the red for the missing withdrawal on my 2025 taxes?   I don't see how the first RMD amount ever gets cleared as withdrawn.

In old RMD related postings we were advisied to list whatever we had withdrawn as the 1st RMD amount, then the balance would be covered the following tax year - sorta made sense but now I'm old and befuddled.

[Mike9241]

the 2024 1099-R would show $900,000. the entire amount is your RMD for 2024 because you have until 2025 to withdraw the remainder.

in 2025 you'll be taking the remainder of the RMD for 2024 + the RMD for 2025. when you do your 2025 return, the required RMD is the total. 

[nmc51]

Thank you - that's what makes sense to me.     I'll continue to do as you describe (which is what I had originally)

It's the newish phrasing re the 'required to be distirbuted by Dec 31, 2024...'  - the IRS web site says the first is not required/due til Apr 1 so the TT change seemed to be telling me now not to list what I had withdrawn.

Thanks