dick_ann
New Member

A 2020 1099-R shows a distribution (Code 7, X). It was all distributed as QCDs. Do I answer YES or No to the question TurboTax Premier asks of whether this was an RMD?

This question is being asked in light of the CARES Act which eliminated the need to take RMD in 2020.
dmertz
Level 15

Retirement tax questions

Under these circumstances, it doesn't matter how you answer this question.  The answer that you provide to this question is only used by TurboTax to determine how much is eligible for rollover and you rolled none of it over.

 

Technically, none of this distribution was RMD because RMDs for 2020 were waived by the CARES Act.

dick_ann
New Member

Retirement tax questions

Thanks for the quick response!

I actually tried it both ways and the result was the same, so it didn't seem to matter.  I hadn't considered the rollover aspect.