@annelouise wrote:
In TurboTax, indicate that the distribution was not an RMD. Indicate that you moved the money to another retirement account (or returned it to the same account), then indicate how much of the distribution you returned to the IRA.
I did the first thing and said the distribution was not an RMD. Where do I indicate that I returned the money to the same account? I have gone through this multiple times and I cannot figure it out.
What code is in box 7 on your 1099-R?
Is the IRA/SEP/SIMPLE box checked?
Delete the 1099-R you entered and re-enter.
Answer the RMD question that "None of this distribution was a RMD" or "RMD not required" depending on the TurboTax version - because it was NOT a RMD, there were no 2020 RMD's.
If this is an inherited IRA then answer the "Is this IRA inherited" with NO. The purpose of that question is to PREVENT rolling an inherited IRA over, but is allowed for 2020 only.
Then you will get the screen to say it was "moved" and all rolled over.
Also check the box that this was NOT a COVID related distributions - it was a RMD that was returned.
That will put the 1099-R box 1 amount on the 1040 form line 4a with the word ROLLOVER next to it.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
