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Taxes on RMD for 2020
I took my full IRA RMD for 2020 before the law changed to waive RMDs for 2020. I then redeposited 50% of the distribution back into the same IRA within the allowable timeframe. The TurboTax form shows that I owe taxes on the entire distribution, not just the 50% I kept out.
Do I need to mark the distribution as not an RMD, as the response indicated for a similar question from someone who rolled the entire amount back?
ā€ˇFebruary 5, 2021
5:18 AM