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Retirement tax questions
Then at age 70 1/2 you are required to take a RMD. TurboTax asks if the distribution all or part of a RMD.
An RMD or any part of a RMD is not eligible to be rolled back or into any other retirement plan so the question will not be presented.
Only distributions that are in excess of a RMD can be rolled over, but the RMD must be satisfied first. If your distribution was *more* than the RMD then answer the RMD question that part of the distribution was a RMD and enter the RMD amount, then the question will be asked so that the excess only can be rolled over.
An RMD or any part of a RMD is not eligible to be rolled back or into any other retirement plan so the question will not be presented.
Only distributions that are in excess of a RMD can be rolled over, but the RMD must be satisfied first. If your distribution was *more* than the RMD then answer the RMD question that part of the distribution was a RMD and enter the RMD amount, then the question will be asked so that the excess only can be rolled over.
**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.**
‎June 4, 2019
5:32 PM