How to answer TT's RMD questions after taking Total Distribution in Nov '18 before RMD was due? (RMDs were taken as required in previous years.)

[dmertz · Accepted solution]

RMD was the first part of the total distributed was your RMD, even though it might have been distributed concurrently with the balance of the account.  Enter as the amount of your RMD whatever amount you would have been required to take had you not received a total distribution.  The amount you indicate was RMD is subtracted from the gross distribution amount by TurboTax to determine the amount TurboTax will allow you to report as having been rolled over, if you did a rollover.  (If you didn't roll any of the distribution over to another retirement account, it doesn't really matter what amount you enter as the amount that is RMD.)

After clicking the Continue button on the Your 1099-R entries page, indicate that you received all of your RMD (assuming that you did not fail to complete an RMD from some other retirement account.)

[gruset]

RMD was waived by the IRS for 2020.  Turbotax does not recognize this??

[VolvoGirl]

First of all you posted on a very old post.  This is a new forum layout. Some posts that have June 2019 dates are really older posts from the old forum that got moved over. So they might be for prior years and not current info. When they migrated over the dates got changed to June 2019. And the screen shots got deleted. 

Yes Turbo Tax knows the RMD was not required but you have to tell it.  Since there is no RMD required for 2020,  after you enter the 1099R say it was NOT an RMD and then 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.