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Retirement tax questions
In Forms > 1040/1040SR Wks - Go down to line 4b, click on the “Explain” box. This will open an Explanation Statement where you can explain what you did. I do not believe this would be part of the online filing but it would give you the documentation you need should you be audited. My explanation was: I took a RMD for $XX,XXX on (date). The CARES Act waived RMD’s for 2020. IRS Notice 2020-51. On (date), $XX,XXX was redeposited to the original IRA. The net result was a distribution for $XX,XXX.
January 25, 2021
1:21 PM