ttaxhar
New Member

Retirement tax questions

Unfortunately before IRS Notice 2020-51was issued I had several RMD payments.  That IRS Notice waived the 60 day rollover and the once a year rollover rules, so my redeposit of these funds will be treated as rollovers.  The Form 1099-R I expect to receive will show the total amount as a normal distribution (Code 7) and IRA box checked. The taxable amount unknown box will be checked.  So for tax purposes this is reported as a RMD, albeit one that has been rolled over.  Because this is a one time waiver of two rules, I was wondering how TurboTax will handle it.