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Mbourke
New Member

I made the minimum distribution requirement, then later reversed it due no distribution requirement needed for 2020 . How does turbo tax account for it?

 
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MinhT1
Expert Alumni

I made the minimum distribution requirement, then later reversed it due no distribution requirement needed for 2020 . How does turbo tax account for it?

The RMD that you repaid are considered as rollovers to the same account and is not taxed.

 

Enter your form 1099-R normally. After entering your form 1099-R, click Continue until you reach the screen Tell us if you moved the money through a rollover or conversion. Check the radio button which corresponds to your situation then click Continue and follow the interview. Enter the amount repaid as a rollover and it will be excluded from taxation. You will still have the credit for taxes withheld.

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