Retirement tax questions

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@jakcy wrote:

Update:

The distribution was taken so the 1099-R  cannot be reissued. You should get a 2020 Form 5498-IRA. The work around is that in completing the 1099R in Turbo Tax  instead of typing in the MRD withdrawal double click in the box and get a worksheet.  Fill in the withdrawal amount from the 1099R on first line. Then add the 5498-IRA info on line 2 as a negative number.  You can used the text lines to write why if you want a reminder to yourself. The 5498 IRA is not a form in TurboTax.

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Absolutely not.    A 5498 does  not go on a tax return and changing the 1099-R box or 2a amount will guarantee an audit letter form the IRS.

There is nothing special about this, it simply gets entered the same way as any other rollover.

This is all there is to it - simple.

(The working on the screen is misleading because you cannot "tell about a RMD" that did not exist - just check the box as below.