The taxes withheld will be in box 4 (federal) and box 14 (state) on your 1099-R. When you enter your 1099-R into TurboTax you will enter this information as well. The withheld federal taxes from the 1099-R will show on line 25b on Form 1040.
Since you didn't return the full amount, the amount of taxes withheld will still be taxable income.
Please follow these steps to enter your 1099-R and RMD rollover:
- Login to your TurboTax Account
- Click on the Search box on the top and type “1099-R”
- Click on “Jump to 1099-R”
- Continue until "How much was a RMD?" and select "none"
- Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
- Continue answering the questions and enter the amount actually returned.
RMDs were waived for 2020. You must indicate to TurboTax that none of the distribution was RMD. If you already enter the 1099-R as RMD and changing your answer to the RMD question doesn't work then you have to delete and renter the 1099-R form.
You can verify your entry by looking at your Form 1040 line 4 or 5:
- Click on "Tax Tools" in the left menu
- Click "Tools"
- Click "View Tax Summary" in the Tool Center window
- Click on "Preview my 1040" on the left
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