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Turbotax 2020 saying I owe taxes on RMD returned per CARE act
Thinking there might be a bug in the Turbotax Home & Business. I entered my 1099 from TDAmeritrade with my 2020 Inherited IRA distribution, which I returned to TDA per rollover as instructed. Entered in Turbotax which told me I wouldn't have to pay taxes on this. And then entered tax owed in the red under the 'Federal Tax Due' section of the program.
Is there different way to enter this?
I was surprised TDAmeritrade even entered it in the 1099 as it was returned/rolled over, but assume that's just how it is recorded. Didn't receive a rollover notification from them (although never did a rollover before).
Thanks,
Adam
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‎January 16, 2021
5:54 PM