SamS1
Expert Alumni

Retirement tax questions

Yes.  The Qualified Contribution Distribution is working in TurboTax. If you are at least 70 1/2, TurboTax will ask whether a portion of your withdrawal was QCD under the Uncommon Situations screen directly after you entered the 1099R information in TurboTax Online.  Make sure and review your "My Info" section of TurboTax to insure your birthdate is entered correctly.  

 

The Cares Act suspended the Required Minimum Distribution for 2020.  If you took out your RMD prior to passage of the Cares Act, you had the option to roll it back into your IRA and not pay tax on it if done by 12/31.  

 

Here is some more information on how the Pandemic affected your taxes.