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Level 1
posted Feb 23, 2021 1:57:29 PM

Ira rmd not required for 2020

took a portion of ira rmd for 2020

0 1 167
1 Replies
Expert Alumni
Feb 23, 2021 2:15:11 PM

The RMDs have been waived for tax year 2020.

 

Please read this IRS document for more information.

 

In TurboTax, if you withdrew in 2020 a portion your RMD, you can choose either Only part of this distribution was a RMD or None of this withdrawal was a RMD. There is no penalty.