RMD's

[Tennis Guy]

I have two retirement accounts. I took RMD;s from both that totaled more than the required total RMD for both accounts. One of the withdrawals was less than the RMD for that account. TT wants to charge me a penalty of 10% of the shortfall as detailed on form 5329. Form 5329 only shows the details for the account that was under withdrawn, NOT the totals for both accounts which would show I met the total RMD required. This has never been a problem in the past.

I have seen similar posts with the same problem. Can anyone help?

[JohnB5677]

I suggest posting the total RMD amount for both or all of your RMD accounts.

• Entering the total RMD for every account requiring an RMD
• Since they will all be low
• The program will ask if the balance was withdrawn in another account?
• You will respond Yes.

[VolvoGirl · Accepted solution]

The 1099R RMD questions have been fixed on Feb 20, 2025!  If you are using the Desktop program be sure to update your program.

[Tennis Guy]

Yes, I reloaded Turbo Tax this morning. When it updated, the RMD problem had been corrected. You can now enter all of your RMD's and verify that the total withdrawal exceeded the required amount.