Entering RMD for each 1099R

[taxlady28]

The program was rewritten and has those errors now.  I just marked the answers to what worked with the program and filed my return.  The problems will get corrected at some point, but I do not have the patience to wait and just put in the answers that would let me finish and file.

[Speyman]

The 1099-R is for a retirement benefit which has been paid to me for at least 10-15 years without any issues or changes on the 1099-R. I just "finished" my taxes and Turbotax is hitting me with a tax penalty for 25% of the retirement income (>$34XX). There are no different types of 1099-R accounts in TurboTax other than those subject to RMD which this 1099-r is not subject to. I have taxes withdrawn each monthly payment to me.

Intuit needs to get their act together fix this bug yesterday. Making a user trick the software is the worst kind of software vendor. This is the first year I have a problem with the software. I can't talk to anyone form Intuit technical about it. I really don't want to do a work around as it will screw up my tax history, etc.

[DoninGA]

@Speyman If this is a pension income and assume that there is a code 7 in box 7, the RMD for the pension is the total distribution in box 1.

I have an Form 1099-R pension for the last 21 years and the RMD was requested back in tax year 2019 for mine.  Have had no issues whatsoever in entering the Form 1099-R for my pension with an RMD.

[Speyman]

For a software vendor to make you take the actions you describe to trick buggy software so that you can use it is unprofessional and irresponsible on the part of Intuit. Given the aging US population, to not be able to differentiate between different 1099-r situations in tax software is unbelievable.

Sounds like you edited the worksheets to meet your needs. Did the calculations happen after you edited the worksheet to remove the error?

[Speyman]

I'm not sure I understand your answer. Are you saying that the software is not forcing a RMD situation on a non-RMD 1099-R, or are you using a work around? Could you provide some guidance for me on your approach? Thank you!

BTW- I have removed TT2024 and re-installed with new software twice without being able to clear the bug. It goes without saying I have removed and re-eneterred the 1099-R at issue about 10 times without clearing the error TT is throwing.

[DoninGA]

@Speyman What I am saying is IF this distribution was from a company pension and you are being asked about the RMD, then the amount of the pension income in box 1 of the form is the RMD.

[VolvoGirl]

You must have just turned 73 for it to start asking you about the RMD.  For pensions, It's whatever they send you. Say all of it is the RMD. If you have a RMD requirement it will ask you if it is the RMD. Say yes and enter the amount as the RMD amount. The pension doesn't need to calculate any RMD. Anything your pension pays you is considered to be the RMD. Traditional pensions automatically fulfill the rules of an RMD. So just enter the same amount in box 1 for the RMD for each 1099R. 

[Speyman]

Thank you! Very logical and to the point. I'll give it a try. The answer to your implied question is the 1099-R in question is for my company retirement plan monthly payments which I have no control over whatsoever. I'll let you know what happens...thanks again