I have a 1099-R that is blank on the space for "amount taxable." But when I leave it blank in turbotax, I am told there must be a number entered, even if it is zero. ??

[davecool123]

In 2020, I withdrew all money from an inherited Roth IRA I received from my mom in 2007. It was much greater than the RMD. Is that all taxable?

[AmyC]

Yes. If you were affected by COVID, you can spread that distribution over 3 years on your taxes. To spread it out:

1. Return to the 1099-R, edit/update
2. Box 1 gross distribution
3. Box 2 taxable amount, enter the full amount
4. Box 7, code 1
5. taxes withheld
6. continue
7. About the Money... continue
8. Answer IRA, Safety Officer, continue
9. Select your state, continue
10. Where Is this Distribution from? Neither of the above, continue
11. What did you do? Something else, continue
12. Periodic payments? No, continue
13. Was this COVID? Yes, COVID, continue
14. How much? Enter all or portion, continue
15. Receive before Dec 30? Yes
16. Did you or dependents test positive? answer
17. Did you have reduction in income or other on the list? answer, continue
18. Did you repay any? answer, continue