Retirement tax questions

@toolguyMF240 the program will allow you to do that. I hope you have not mailed it yet!

For 2020, you want to mark that none of it is RMD since the law changed for 2020 distributions.

Follow these steps:

First, report the distribution:

1. Go to your 1099-R and edit
2. Type in the 1099-R just like the form in your hand
3. Gross distribution, taxable amount, tax withheld, etc, match the form
4. Box 7 has a number in it on your form, pick that same number for the program dropdown.
5. If your form has IRA/SEP/ SIMPLE box marked, check the box in the program
6. State information, match the form
7. Continue

Second, go through the follow up questions:

1. Inherit, no, continue
2. Transfer to charity, none, continue
3. What did you do with the money? Moved to another retirement account or returned to same account, drop down appears
   1. choose which of the following applies
      • moved it all - says rolled over all of this money to another retirement account
        • continue
        • We want to let you know no tax
      • moved part of it - did a combination of rolling, converting, or cashing 
        1. dropdown and mark how much was rolled into a retirement account
        2. continue
        3. HSA? no continue
        4. COVID or disaster? 
           1. no, continue, done
           2. yes, COVID, keep answering