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exp626
New Member

Paid back RMD for 2020 still shows the 1099R amount in line 4b on 1040 as a taxable amount even if told not an RMD distribution, should show ZERO

Only help answer if done still shows 1099 line 4b as a taxable amount, not zero.
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1 Reply
DanaB27
Expert Alumni

Paid back RMD for 2020 still shows the 1099R amount in line 4b on 1040 as a taxable amount even if told not an RMD distribution, should show ZERO

 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. RMDs were waived for 2020 and you must indicate to TurboTax that none of the distribution was RMD.

 

Please follow these steps to enter your 1099-R and RMD rollover:

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R”
  4. Continue until "How much was a RMD?" and select "none"
  5. Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
  6. Continue answering the questions.

 

Also, make sure you enter the full amount returned, if you had taxes withheld and did not return the full amount then that part will be taxable. 

 

 

You can verify your entry by looking at your Form 1040 line 4:

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left
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