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New Member

How do I enter that in August of 2020 I returned a portion of my RMD?

I took the rmd in January and returned most of it in August, how do I enter that?
6 Replies
Level 15

How do I enter that in August of 2020 I returned a portion of my RMD?

Just enter the 1099-R and say that it was NOT a RMD and then say it was all 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.**
Employee Tax Expert

How do I enter that in August of 2020 I returned a portion of my RMD?

Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, will be e-fileable starting 2/24.

 

The IRS is updating form 5329’s instructions to make it clear that COVID related exceptions cannot use 5329 and should use the new 8915-E.

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Level 15

How do I enter that in August of 2020 I returned a portion of my RMD?


@AmyC wrote:

Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, will be e-fileable starting 2/24.

 

The IRS is updating form 5329’s instructions to make it clear that COVID related exceptions cannot use 5329 and should use the new 8915-E.


@AmyC  The question is about a RMD rollover that has nothing to do with the 8915-E form.  It is simply the same as any other IRA rollover, except the CARES act allowed RMD to be rolled back.    8915-E not used for this.

**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.**
New Member

How do I enter that in August of 2020 I returned a portion of my RMD?

I can't say I rolled over all of it, because I only sent back to the same IRA part of the distribution

New Member

How do I enter that in August of 2020 I returned a portion of my RMD?

yes, but how do I enter the rolled over portion in TurboTax?

Level 15

How do I enter that in August of 2020 I returned a portion of my RMD?


@napadave wrote:

yes, but how do I enter the rolled over portion in TurboTax?


Check the box that you did a combination of thing and the  enter the amount rolled over.   The amount not rolled over will be ordinary income.

**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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