RMD and Form 1099-R

[MorLen8]

I have received 2 1099-R forms from my TSP account for 2024. One is for the total distributions and one for a rollover into a Gold IRA.

The 1099-R for total distributions is to account for 3 items: 1. My TSP RMD  2. Additional RMD for the Rollover  3. Additional RMD to cover for another IRA.  Question: How do I enter this 1099-R into Turbo Tax Premier?

The second 1099-R is for the rollover into a GOLD IRA and has code G in Box 7 and there is $0 taxable amount in Box 2a. Do I just enter this 1099-R into TT as well?

[DavidD66]

When you enter the 1099-R for the distributions, you will be asked questions about RMDs and other accounts. Answer the questions as if it was the only 1099-R you have and that it is for the only retirement account that you have.  Tell TurboTax that the entire distribution amount is an RMD for that account.   

And yes, you just enter the rollover 1099-R in TurboTax.  Make sure if asked what you did with the money that you indicate you rolled 100% of it to another retirement account.

[dmertz]

Distributions from your TSP are not permitted to be used to satisfy RMDs for any other account.  They only are permitted to satisfy the RMD of the TSP.  If you intended part of the distribution from the TSP to satisfy an RMD for some other account, it did not and you likely have failed to satisfy the RMD for that other account and you'll need to inform TurboTax of that fact so that TurboTax can prepare Form 5329 Part IX to report the excess accumulation in that other account.

I have no idea what you mean by "2. Additional RMD for the rollover."  your RMD for the TSP was required to have been completed before the remainder of the account was rolled over, so perhaps the previous distribution that you received from the TSP did not complete your TSP RMD and your TSP RMD needed to be completed before the remainder of the TSP was permitted to be rolled over.

The code-G From 1099-R is required to be entered.  For a nontaxable direct rollover the amount in box 2a should be $0, making the distribution nontaxable.