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Retirement tax questions
I had a slightly different situation. I had one 2019 RMD taken in January 2020; the rest were taken in 2019 because I turned 70 1/2. For the remainder of my applicable 1099-R accounts, I made a withdrawal, most of which were equivalent to the required RMD. I understand that RMDs were not required in 2020. TurboTax seems to apply the same answer to the question whether the withdrawal was part or all of an RMD for all my accounts. That is, I can't answer Yes for the 2019 RMD but No for the remaining withdrawals. I don't see a problem if I answer Yes for all the accounts; however, most of the responses to similar questions I've seen recommended answering No because the RMD wasn't required.
‎February 23, 2021
1:22 PM