Turbotax RMD glitch

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Post Reply
Topic Author
ma2jo
Posts: 19
Joined: Mon Dec 08, 2014 1:14 am

Turbotax RMD glitch

Post by ma2jo »

An issue with online Turbotax RMD Input. Numerous reports including my personal issue with imputing then software accepting the amount of RMD to be reported. More specifically the software will not accept a whole dollar amount on the next verification screen and deletes "cents". This prevents e-filing as there is a discrepancy between the true RMD inputted amount by the user and the software adjusted amount on the next screen. I spent hours on a call with Intuit and issue is not resolved. See Turbotax community support blog for more details:
https://ttlc.intuit.com/community/taxes ... 00/3431288,
nalor511
Posts: 6028
Joined: Mon Jul 27, 2015 1:00 am

Re: Turbotax RMD glitch

Post by nalor511 »

Tax software is rarely in filing shape before mid Feb at the earliest, more likely Mar 1
User avatar
LadyGeek
Site Admin
Posts: 101113
Joined: Sat Dec 20, 2008 4:34 pm
Location: Philadelphia
Contact:

Re: Turbotax RMD glitch

Post by LadyGeek »

This thread is now in the Personal Finance (Not Investing) forum (tax software).

(Thanks to the member who reported the post and explained what's wrong.)
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
User avatar
CAsage
Posts: 4265
Joined: Sun Mar 27, 2016 6:25 pm

Re: Turbotax RMD glitch

Post by CAsage »

Can you simply enter a whole dollar amount for the RMD - rounding per IRS convention?
Salvia Clevelandii "Winifred Gilman" my favorite. YMMV; not a professional advisor.
Asyouwish
Posts: 491
Joined: Tue Aug 04, 2020 6:20 am

Re: Turbotax RMD glitch

Post by Asyouwish »

Use whole numbers. The IRS doesn’t want cents. The IRS drops the cents. Your 1099-R transmitted to the IRS will not have cents. The IRS allows $1 rounding for each information report. You can have four 1099-Rs and be off anywhere between $1 and $4 total. The computer won’t care.
PatrickA5
Posts: 1054
Joined: Mon Jul 28, 2014 1:55 pm

Re: Turbotax RMD glitch

Post by PatrickA5 »

Is there a way to easily tell TurboTax about a bug? For example, Home Office deduction is not working correctly because it's pulling in the wrong line from Schedule C.
User avatar
bikefish
Posts: 306
Joined: Wed Jul 10, 2024 10:38 am

Re: Turbotax RMD glitch

Post by bikefish »

I posted an issue to the TT Reddit forum and it was eventually corrected.
If someone asks you the time, why are you telling them how to build a watch?
Post Reply