@Edward Westmeyer wrote:
I took RMD from my 401K and from my IRA early in the year before Covid. After the IRS said RMD are not required I repaid them. I also converted some of my IRA to my Roth IRA in a separate transaction. When I put the infor into Turbo tax it ask me what I did with the money I took in the RMD. The Codes I thought I could use where N or 8. Which one should I use? They both gave me the correct answer. Thank you
Codes N or 8 are both wrong for this type of transaction. The IRS will not even open until Feb 12 and you should receive the 1099-R with the actual codes to use by Jan 31.
**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.**
