teaparty666
Returning Member

Retirement tax questions

Hi,

 

I thought your posting was going to solve my 2020 RMD from an Inherited IRA - it was looking good, got the "Rollover" and $0 after the $ amount taken out as the distribution (and returned to the Inherited IRA) and I clicked NO for it being a RMD Distribution, NO to Inherited IRA and NO to it being related to COVID-19.

 

However, after completing the income sections, the resulting Picture of my 2020 Income shows the distribution amount as "IRA Distributions - non-taxable" so it shouldn't count as income BUT when I add up the all the income items including the RMD amount, the Total Income shows that it included the RMD amount.  So now I'll be reporting a higher income and be taxed.   I had deleted the 1099-R and re-entered but it still doesn't exclude the RMD amount from the Total Income Summary...

 

How can I get Turbo Tax to fix this.