I entered a 1099-R with following info:
!)Gross Dist: $700
2)Taxable Amt: $700
4) Fed Tax withheld: $70
7) Code 7
No other boxes filled in.
This was complete RMD from approx 20K 403B that was rolled over into a traditional IRA at a different financial institution. Gross Dist of $700 was cashed out.
$700 is NOT being counted as Taxable Income in TurboTax, but Fed taxes taken out are counted in taxes withheld.
1099R for $20K rollover was entered separately, as was 1099R for $700 RMD Distribution.
Shouldn't $700 RMD be counted in Taxable income in TurboTax?
