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Retirement tax questions
If you are younger than 72, you might need to temporarily change your age. 2020 TurboTax presently has a bug the prevents it from asking the necessary question for those with birthdates between July 1, 1949 and June 30, 1950. As a workaround for this, you can temporarily change your birthdate in TurboTax to something before July 1, 1949, edit the 1099-R form in TurboTax and answer the questions on RMD, then change your birthdate in TurboTax back to your actual birthdate.
This is due to TurboTax implementing the new IRA RMD age from 70 1/2 to 72, but overlooking that the 70 1/2 age. Make and answer No to the question if this distribution is RMD.
March 16, 2021
10:30 AM