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Retirement tax questions
If you received the QCD question then that would indicate that you are 70 1/2 or older. Only if you answered the RMD question that the amount of the RMD had been satisfied and the distribution you are entering is MORE than the RMD can the excess be rolled over. No part of an RMD is eligible for rollover so if you answer the RMD question that it was all a RMD then the question will not be asked because a rollover is not allowed.
Any part of a RMD that was put into another retirement account is an excess contribution subject to penalty until removed.
**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.**
‎July 14, 2020
7:51 AM