IF an RMD was not taken based on CARE act - how is this reported in TTax
I didn't take my RMD this year based on the CARE Act waiver. Using TTax home and business - It askes if RMD was taken but not sure that's the correct answer since I have been taking it in the past . Is there a "form' that is generated. I have the $ amount that I could have taken.
01634
1 Best answer
MinhT1
Expert Alumni
Mar 15, 2021 2:59:53 PM
The RMDs have been waived for tax year 2020.
Please read this IRS document for more information.
If you did not take your RMD in 2020, there is nothing to report about the RMD on your tax return. There is no penalty.
1 Replies
MinhT1
Expert Alumni
Mar 15, 2021 2:59:53 PM
The RMDs have been waived for tax year 2020.
Please read this IRS document for more information.
If you did not take your RMD in 2020, there is nothing to report about the RMD on your tax return. There is no penalty.