RMD non deductible

Withdrew from a couple of RMD accounts in Jan 2020 and redeposited same in Mar.  1099-R's shows each as taxable income.  I had to type in the the 1099-R by hand (auto transfer to Turbo Tax not possible). It's only this one institution (USAA).  Turbo Tax easily covered the other RMD's.

 

How will Turbo Tax declare that it is not taxable income?  

 

DanaB27
Expert Alumni

Get your taxes done using TurboTax

Please follow these steps to enter your 1099-R and RMD rollover:

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R” and enter your 1099-R
  4. Continue until "How much was a RMD?" and select "none"
  5. Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
  6. Continue answering the questions.

 

RMDs were waived for 2020. You must indicate to TurboTax that none of the distribution was RMD. If you already enter the 1099-R as RMD and changing your answer to the RMD question doesn't work then you have to delete and renter the 1099-R form. 

 

 

 

 

 

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Got it thanks to an expert!  Just needed to continue through the Turbo Tax questions and there it was, as you noted.