RMD

There is no line on the 1040-X for RMD data. IRS wants to insure taxpayers meet the minimum requirements and IRA custodians forward 1099R to IRS. TT audit should prompt the tax preparer for the correct RMD data and assist in the calculation (AI prompt). At the very least, TT should flag the entry in the audit before approval. Four (4) years of mistakes which should have been corrected by TT software.

posted