Ahhh......yeah, a person who turned 70.5 in 2019 could have taken their first RMD in 2020, but before April. So yeah, they still need that RMD question in there for any of those folks.
But for the others, I think they are trying to let them know what to do, but I think it mis-directs themnow. This stuff is going to be immensly confusing as to what to select for millions of taxpayers. The "Online" software says:
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"Because of a law change on March 27, 2020 as part of the CARES Act, required minimum distributions have been suspended for 2020 for certain accounts. If you still took your RMD, go ahead and let us know below."
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To be perfectly clear, that last sentence needs to be quickly changed to something like:
"For those who turned 70.5 in 2020, or were older, you should select: None of this withdrawal was an RMD."
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Except..DANG, that doesn't apply to pensions....or anything annutized? Those are still RMDs no matter what the age. SO now TTX needs to specify what accounts to say No to the RMD question? Chaos !
"For those who turned 70.5 in 2020, or were older, you should select: "None of this withdrawal was an RMD " for the following types of distributions.................." ??
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
