Even though RMD was not required in 2020, why does...
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rds82hfs
New Member

Even though RMD was not required in 2020, why does TurboTax ask what it would have been?

How do I answer the question when filling out 1099R data about how much was RMD?
2 Replies
VolvoGirl
Level 15

Even though RMD was not required in 2020, why does TurboTax ask what it would have been?

It should not ask you.

Since there is no RMD required for 2020,  after you enter the 1099R say it was NOT an RMD.  Did you put it back in?  then say that you rolled it over (even if back into the same account).  Was any withholding taken out?  If it was then did you replace the withholding with your own money?  Otherwise the withholding will be a taxable distribution itself. You will get credit for the withholding taken out. 

 

If you already entered the 1099-R as RMD and changing your answer to the RMD question doesn't work then you have to delete and renter the 1099-R form. 

 

macuser_22
Level 15

Even though RMD was not required in 2020, why does TurboTax ask what it would have been?


@rds82hfs wrote:
How do I answer the question when filling out 1099R data about how much was RMD?

Answer that "None of this distribution was a RMD".

 

 

Why does it ask?   Because the CARES Act did not eliminate ALL RMD's - defined benefit plans. periodic paid pensions, etc. still required a RMD and there is no way to tell form the 1099-R the type of plan and if the RMD is required or not.

 

**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.**
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