rtmtmac
New Member

Retirement tax questions

I did a RMD in March 2020, but rolled it back pursuant to the CARES Act. I got the 1099 - R and Form 5498.  I followed your instructions for handling this situation in TurboTax, but I believe it results in an unintentional problem. While the net effect is zero for taxation of the distribution and subsequent rollback,  the distribution still inflates  the amount of taxable Social Security benefits.  As such, I wind up with a higher taxable income than I should. Accordingly, I have elected to not input my 1099-R and plan to file manually with a copy of the 1099-R and Form 5498.  Any suggestions on how to handle?