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I didn't take an RMD from one of my 401k's because the Covid rules said we didn't have to. Now they are saying there's a tax because I didn't take an RMD

 
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1 Best answer

Accepted Solutions
DanaB27
Employee Tax Expert

I didn't take an RMD from one of my 401k's because the Covid rules said we didn't have to. Now they are saying there's a tax because I didn't take an RMD

Please, answer you were not required to take an RMD/ none was RMD when TurboTax asks about it since RMDs were waived in 2020.

 

Please go through the 1099-R section to answer the RMD question:

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “1099-R”
  3. Click on “Jump to 1099-R”
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
DanaB27
Employee Tax Expert

I didn't take an RMD from one of my 401k's because the Covid rules said we didn't have to. Now they are saying there's a tax because I didn't take an RMD

Please, answer you were not required to take an RMD/ none was RMD when TurboTax asks about it since RMDs were waived in 2020.

 

Please go through the 1099-R section to answer the RMD question:

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “1099-R”
  3. Click on “Jump to 1099-R”
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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