Tax & Accounting Blog

Required Minimum Distribution Calculations From Retirement Plans Now Available in 2015 UltraTax CS

CS Tax & Asset Management Solutions December 9, 2015

Beginning with 2015 UltraTax CS, you can calculate and print a Required Minimum Distribution (RMD) Worksheet for an IRA (including SEP and SIMPLE), 401(k), profit-sharing, 403(b), or other defined contribution plans. This new worksheet is a helpful retirement planning tool that you can offer your individual taxpayers.

To calculate the projected 2016 required minimum distribution, use the Retirement folder > 1099R-3 tab. Enter X in the Print Required Minimum Distributions Worksheet for this unit field, choose the appropriate plan in the Type of Plan field, and then enter the plan’s value in the Value as of 12/31/15 field. Entering this data produces the RMD Worksheet in Forms view.