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Any updates on those of us who turned 70.5 in 2020 to show the QCD, since we do NOT have an RMD to pose the question.

 
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1 Reply
SamS1
Expert Alumni

Any updates on those of us who turned 70.5 in 2020 to show the QCD, since we do NOT have an RMD to pose the question.

The only solution at this time is to temporarily change the age date to 72 and walk through the 1099R and QCD screens. Since this information is not transmitted to the IRS and will help with any RMD questions, I guess 72 is the new 70.5.  With no RMD issues this year, leaving at 72 as you complete your return should not impact the tax calculations. 

 

The pandemic has affected your taxes in many ways. Including reporting in TurboTax the amount of stimulus money you received. Click Here for more information on how the Pandemic affected your 2020  taxes.

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