RMD on IRA

[indiane26]

I have entered my 1099-R and entered the amount of my 2025 gross distribution from Box 1.  Later in the software it asked what RMD I was required to make by December 31, 2025.  Should I answer $0 or the amount of the RMD that was already reported with my 1099-R.  If I enter zero, I get a nice refund; but, if I enter the amount already received, it takes that refund away.  I'm totally CONFUSED!  Thanks for any help I receive.

[ReneV4]

No. You should not answer zero, nor the entire amount found in box 1, unless you are certain that one or the other is your correct required minimum distribution (RMD).

The total distribution from Form 1099-R that is in box 1 is not always equal to the RMD. Therefore, you will need to contact your financial advisor to ask for assistance.

Once you have the correct amount for your RMD, you can then complete the information being requested with the correct amounts.

If you are now at the age, but did not take the distribution, here are a few things to know:

• You must immediately take the distribution to minimize penalties, which are 25% of the shortfall, or 10% if corrected within two years
• The first RMD must be taken by April 1 of the year following the year you reach age 73
• Subsequent RMDs are required by Dec 31 annually

Click the following links for more information, What are required minimum distributions (RMD)?