1892281
Took my MDR prior to IRS saying MRD's not required in 2020. The income taxes were paid, but the money returned to my 401K.
My 1099R shows the amount originally sent to IRS. Does Turbo Tax have an entry to show that money was returned from the IRS to my 401K account?
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Yes, please follow these steps to enter your 1099-R and RMD rollover:
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.
Please be aware if you did not return the amount of tax withheld with other funds then that part is still taxable income. The withheld taxes are credited on line 25b on Form 1040.
You can verify your rollover entry by looking at your Form 1040 line 5:
Thank you. Followed your instructions. All is good with my tax return.
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