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Retirement tax questions
Ah the tax code, so clear and yet so oblique. The requried Form 1099-R box 7 will show my RMD as (7) a normal distribution from an IRA (checked box). You are correct that it does not say RMD, but the IRS uses Form 1099-R and Form 5498 (filed by my broker) to see if I met my normal RMD. Notice 2020-15 clairifies for this tax year no RMD is required AND that I am allowed to rollover an already taken RMD for no tax. Thus a normally taxable distribution rolls over to create no tax. But since the existing rules (60 day rollover time limit and one a year rollover) covering rollovers had to be waived to let this happen, what will Turbotax (presumably programmed under the old rules) do. That is my question.
‎October 2, 2020
12:06 PM