On the ‘Form 1099-R Summary’ Line 45 states: “Was the total required minimum distribution distributed to this person for all accounts in 2024? include RMDs from accounts without a 1099-R”
First, that is written very poorly with the question mark after ‘2024’ instead of at the end and the word ‘distributed’ is repetitive and not needed. Second, there is a problem whether the answer is ‘Yes’ or ‘No’. How does TTax determine what the answer would be?
If the answer is ‘Yes’, then there must be an entry somewhere else for additional RMDs not included in a 1099-R. If the answer is ‘No’, then again TTax should have an entry somewhere else to show RMD account amounts without a 1099-R but still required to be entered. Where would those be?
I think Line 45 should be written simply to state: “Was the total RMD to this person included for all accounts in 2024?” That way a ‘Yes’ or ‘No’ answer is definitive and does not require further explanation, because entries would be elsewhere in TTax for any other existing RMDs and not relevant for the ‘Form 1099-R Summary’.
Neither of the blocks for ‘Yes’ or ‘No’ is checked for us I guess because the ‘question’ is confusing, illogical, and evidently couldn’t be answered by TTax. As far as I have experienced, the question as to whether a distribution or withdrawal amount was an RMD is only asked for a 1099-R entry and not asked elsewhere during the Step-by-Step process of entering wages and income.
I believe an RMD ‘may not’ be reported in a tax year on a 1099-R if you just turned 72, or now 73 if you turned 72 after Dec 31, 2022. My wife fits the Dec 2022 category but her first RMD shows on her 1099-R. Are there any other circumstances for an RMD to not be on a 1099-R? Even if there are, Line 45 needs a re-write.
