I have two accounts with TIAA, The gross distribution in one 105,439, other 13,454. The basis is 1,997,398 using 16.8 divisor and age 84. resulting in a RMD of 118,892. However when I file , I am told that I am 5439 short and have bee assess a penalty of 1360. I know my numbers ae correct. I is interesting that the alleged shortfall (5439) is the same as the last for digits of the first distribution noted above. What do I do to remedy this error?
Thank you.
I tried it in a test file, with a $105,555 distribution from one TIAA pension 403b, and $15,000 for a second one
That didn't show up any penalties in my software.
____________________
I suggest that you edit each 1099-R again, and carefully go thru the follow-up questions again. There may be one where you might have selected a wrong checkbox.
Make sure that your entry for the RMD amount, on one of the follow-up questions, was exactly what was distributed on that 1099-R form, and that it was all an RMD.
You may not have done this....but do not combine the RMD amounts on the follow-up questions...for 403b accounts, each one is treated as being separate, and each has their own separate RMD.