dmertz
Level 15

Retirement tax questions

The deadline for taking this distribution is April 1, not April 15.

 

This distribution taken in 2020 will be reported on your 2020 tax return and will add to your 2020 taxable income along with your 2020 RMD due to be taken by the end of 2020.

 

Assuming that you have Forms 1099-R to enter for distributions made in 2019, after clicking the Continue button on the Your 1099-R Entries page tell TurboTax that you received all of your RMD for 2019 to avoid TurboTax mistakenly generating Form 5329 to report a missed RMD.  This question in TurboTax is badly worded to accommodate the individual taking their first RMD early the following year as permitted.