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New Member
posted Mar 2, 2021 11:29:30 AM

If we did not take an RMD for 2020 because of the waiver, how do we deal with thais? Is there any thing to file to get this waiver?

I didn't take the 2020 RMD on some IRA's, what should I do?

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5 Replies
Expert Alumni
Mar 2, 2021 11:47:41 AM

 

The RMDs have been waived for tax year 2020.

 

Please read this IRS document for more information.

 

If you do not have any form 1099-R, there is nothing to report in TurboTax about the RMD. There is no penalty.

New Member
May 8, 2021 8:42:56 PM

I didn't take the RMD  for $2020 and made no other withdrawals for any purpose. So how do I answer the question "Was this withdrawal an RMD" since I made no withdrawal?? Also What did I do with the money- I didn't do anything with it!! As I understand it leaving the money alone is not a "rollover" so how do I answer the rollover question?? I'm very confused.  Will I have to pay the full tax on the gross distribution (retirement account) or treat it as a full rollover in which case I pay nothing? Thank you.

Level 15
May 8, 2021 9:03:58 PM

Why are you in that section if you didn't take a RMD or withdrawal?   Did you get a 1099R?  Delete it and skip the 1099R section.

New Member
May 9, 2021 12:43:56 PM

Hi. Yes I did receive a 1099R for this retirement account. That's why the RMD question came up.

Level 15
May 9, 2021 1:52:20 PM

Why did you get the 1099R?  What code is in box 7?  Since no RMD was required for 2020 say No it was not the RMD.