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Retirement tax questions
Yes, I got my answer to my question, and the solution worked. In short, if one responds in TT that the original distribution was NOT and RMD the system will then prompt you by asking what did you do with the distribution. An optional response is that you rolled it into another qualified plan. That results in the distribution not being included on form 1040, line 4b (i.e., it's not taxable) and "rollover" being inserted.Note that you may need to edit the original entry for the 1099-R transaction to get the correct prompts for this to work.
FYI, I found Notice2020-51 on the IRS web site which says that the usual 60-day rollover period for certain distributions was extended to August 31, 2020.
Thank you all for your help.
‎January 16, 2021
5:21 AM