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We are doing our income tax using H&R Bolck software and it…

Customer Question
We are doing our...

We are doing our income tax using H&R Bolck software and it is saying we did not draw enough money from our retirement account. This is wrong according to our IRA Kingdom Trust IRA company. We need help from H&R Block on this.

Accountant's Assistant: Which software or app can I help with?

2017 tax software.

Accountant's Assistant: What have you tried so far with your software?

We've completed federal and az state. we drew out funds from Kingdom Trust last year. They paid taxes and we received the rest. Was more than required amount drawn out. software says we didn't draw enough out and now have penalty of $800.

Accountant's Assistant: Anything else you want the Software Expert to know before I connect you?

Not that I know. just don't think we owe a penalty.

Submitted: 1 month ago.Category: Tax
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Customer reply replied 1 month ago
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer reply replied 1 month ago
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Answered in 9 minutes by:
3/16/2018
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 month ago
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 867
Experience: Business Consultant/Accounting Manager
Verified

Hi. Great Question. What is your age? This relates to withdrawal requirements.

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Customer reply replied 1 month ago
76
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 month ago

Is this your first RMD (required distribution)?

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 month ago

I can see by the age, it probably is not. Unfortunately, the required distribution would have needed to be taken by December 31st.

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Customer reply replied 1 month ago
no, received funds year in 2016 for first time.
Customer reply replied 1 month ago
Are you with HR Block support?
Customer reply replied 1 month ago
Are you with H&R Block support?
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 month ago

No. We are with JustAnswer. Are you looking for HR Block support team? Thank you.

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Customer reply replied 1 month ago
We put in HR Block. Somehow got you. I thought theirs was free
Customer reply replied 1 month ago
We paid for their service & want help from them.
Customer reply replied 1 month ago
Id rather try them first if its already part of our cd deal. If not we can get back with you
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