2618878
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

bsesmm
New Member

I do not need a Msd but tax form says I do

How do I remove Msd
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MaryK4
Expert Alumni

I do not need a Msd but tax form says I do

A required minimum distribution (RMD) is an IRS-mandated dollar amount that is required to be taken out of your retirement accounts once you reach a certain age. An RMD is calculated based on several factors, including your year-end account balance(s), age, and life expectancy. 

 

IF YOU ARE 100% SURE YOU ARE NOT REQUIRED TO TAKE AN RMD- in TurboTax you can indicate "The entire distribution was an RMD".  This information is not reported to the IRS, TurboTax uses it to determine if you need to pay the penalty.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question