Retirement tax questions
@george100 wrote:
I took the RMD on 12/7/21 and did the indirect rollover on 12/9/21. If I use the "bad" 1099-R, my tax calculation is wacko (not trivial in my return) and I can find no place in the return where it is corrected.
Everything you said make perfect sense except that I tried to manually enter the Vanguard 1099-R several times and the software prompted for answers to specifics as follows;
- did you inherit the IRA
- transfer to charity
- health savings account?
- qualified disaster?
Other than above, at no time did TurboTax ask "what I did with the money". I am using TurboTax Premier. The distribution code in the Vanguard form is 7, is it possible that a different set of questions are asked using a different code? What am I missing? Can you provide a pointer, possibly using the Insert Photo (camera icon) feature?
What version are you using? When I run a test after setting my age to over 72, the first thing I am asked is
- "was this an RMD" (answer, yes--all or part)
- "how much applies to the RMD" (all or part, select part)
- "how much applies to the RMD"
Then, was this a charity distribution,
Then, what did you do with the money (select rollover)
- All or combination (combination)
- How much (enter the number)
- In this case, you can't roll over an RMD, so in my example I withdrew $6000, with $5000 the RMD. If I enter more than $1000 as a rollover, it would create an error since the RMD amount is not eligible for roll over.
Then HSA question
Then disaster question.
This is the Mac version but all versions are built from the same basic platform so they should have the same screens. What version are you using?
