In 2020 I closed out an Inherited IRA after receiving RMDs for 5 years. The 1099-R I received has the same amount in Box 1 - Gross Distribution and Box 2b - Taxable amount. I closed the account (knowing I would owe taxes) and divided it amongst our children who were out of work due to Covid. Do I report this by checking "some or all of this withdrawal was an RMD" or "None won this withdrawal was an RMD"?
it doesn't matter which way you answer and that is because you are not trying to do any rollovers.
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