Skip to main content
Level 2
March 5, 2021
Question

RMD

  • March 5, 2021
  • 1 reply
  • 1 view

My question is my RMD for 2020 was $29,000 and after federal taxes the net was $26,100.00 but i reported $29,000 

did i do right 

    1 reply

    macuser_22
    Alumni - Champ
    Alumni - Champ
    March 6, 2021

    Yes.  The tax withheld was part of the distribution and is taxable income reguardless of what you did with it.

    **Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
    Level 2
    March 10, 2021

    Yes and thank you Turbotax