I rolled back $10,000 in June 2020 to my IRA per the CARES Act. Received a 1099-R for full RMD and 5498 for the rollback. Where do I report the 5498 rollback?

Please follow these steps to enter your 1099-R and RMD rollover:

1. Open your return
2. Click on "Search" on the top right and type “1099-R”
3. Click on “Jump to 1099-R” and enter your 1099-R
4. Continue until "How much was a RMD?" and select "none"
5. Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
6. Continue answering the questions.

 

RMDs were waived for 2020. You must indicate to TurboTax that none of the distribution was RMD. If you already enter 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. 

 

 

You can verify your entry by looking at your Form 1040 line 4.

 

Thank you, your help is much appreciated!