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Retirement tax questions
This was not a COVID-19 withdrawal. It was regularly scheduled RMD from my inherited IRA account, which I receive annually, every February. My IRA custodian, Fidelity, notified me months later, in July, of the 2020 CARES waiver for taking RMDs, and that I could repay the same RMD amount received earlier back to the same IRA. This change was generated by a ruling from the IRS in June 2020. This was acknowledged as a rollover contribution on my Form 5498 for the same inherited IRA account I received from Fidelity. I have uploaded a copy of that 5498 to TurboTax, but so far, it has not made any difference in my original taxable income (including the original February RMD).
‎January 24, 2021
4:40 PM