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,
Turbotax RMD glitch
Re: Turbotax RMD glitch
Tax software is rarely in filing shape before mid Feb at the earliest, more likely Mar 1
Re: Turbotax RMD glitch
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.)
(Thanks to the member who reported the post and explained what's wrong.)
Re: Turbotax RMD glitch
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.
Re: Turbotax RMD glitch
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.
Re: Turbotax RMD glitch
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.
Re: Turbotax RMD glitch
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?