How do I post that I did noy take money out. becau...
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glogard
New Member

How do I post that I did noy take money out. because covid all9owed that option. how do I show this.

The cares act allowed us not to withdraw any funds from IRA.  How can I show that?
2 Replies
SweetieJean
Level 15

How do I post that I did noy take money out. because covid all9owed that option. how do I show this.

If you took nothing out, you do not post anything at all.

KathrynG3
Employee Tax Expert

How do I post that I did noy take money out. because covid all9owed that option. how do I show this.

Do not enter anything for Form 1099-R as @SweetieJean said unless a distribution was received, even though it was not required for 2020.

 

If you did receive a distribution, indicate that it was not for a RMD by finishing the interview following the initial entry. Check the box None of this withdrawal was a RMD and select Continue.

 

At Tell Us More About This Retirement Plan Distribution, check the box that you were not required to take an RMD for 2020 and click Continue.

 

For more information, see: 

When to Use Tax Form 1099-R: Distributions From Pensions, Annuities, Retirement, etc. - TurboTax Tax...

Tax Tips for Retirement - TurboTax Tax Tips & Videos

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