I also elected not to take RMD for tax year 2020 per CARES Act.

TurboTax Deluxe does not have any interview questions which cover this topic.

I would like to hear from TurboTax how best to handle on my taxes.  Do I just ignore...is there a waiver form to be submitted, etc, etc. ??

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@cruisefor2 wrote:

I also elected not to take RMD for tax year 2020 per CARES Act.

 

TurboTax Deluxe does not have any interview questions which cover this topic.

 

I would like to hear from TurboTax how best to handle on my taxes.  Do I just ignore...is there a waiver form to be submitted, etc, etc. ??

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If you did not take a distribution in 2020 then you would not have received a Form 1099-R.  You have nothing to enter concerning the RMD on a 1099-R.

Because I elected not to take RMD for tax year 2020 I did not receive 1099-R...with that said I would think the IRS would still be looking for some form of waiver certifying I elected NOT to take RMD per CARES Act.

Regardless of how much you withdrew from your account, the current version of TurboTax requires you to enter your 2020 RMD Obligation.  My reading of the CARES Act is that the obligation for 2020 = $0.00.  I am disappointed that TurboTax has not addressed this.  We are paying a premium as TurboTax users and this is such a common question for retirees.

You should not enter anything if you did not received a 1099R.  If you have 1099Rs in your forms from 2019 entries, then delete them for 2020.  If you are getting a penalty on the 5329, then delete the form.  Try reviewing your forms in TurboTax and deleting the unnecessary forms. While in your return in TurboTax:

• In the left hand column select "Tax Tools"
• Select "Tools"
• Select "Delete a form"
• Review for form 5329 or 1099R
• Delete selected form then "Back"
• Run your Federal review again.

Do not enter a form or amount you did not receive.  If you are not seeing the RMD screens and you entered a 1099R, try changing our age to in My Info to 72, delete the 1099R, then re-enter the form.