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SamS1
Expert Alumni

Entering 1099-R for RMD that was redeposited?

Lets start over from the beginning.  You should delete the 1099R you are working on and re-add it.   After you have logged in and are in your return in TurboTax Online:

  • Go to Search at the top of the screen.
  • then enter Form 1099-R in the search box. 
  • You will see a Jump To function that will take you to the 1099-R input screens. 
  • There delete the 1099R in question by clicking on the trash can next to the form
  • Then add a new 1099R and manually enter your 1099R.

At the financial services screens, click "Change how I enter my form" then "Type it myself"

 

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

  1. Enter your 1099-R as received.
  2. Continue until "How much was a RMD?" and select "none"
  3. 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)"
  4. Continue answering the questions.

 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 re-enter the 1099-R form.  
  
You can verify your entry by looking at your Form 1040 line 4 or 5:

  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
  5. Click "Back" when finished

 

 

edhelenz
New Member

Entering 1099-R for RMD that was redeposited?

What is the solution to posting RMD funds that were returned?

Entering 1099-R for RMD that was redeposited?

Just enter the 1099R you got exactly as shown.

Since there is no RMD required for 2020,  after you enter the 1099R say it was NOT an RMD and then that you rolled it over (even if back into the same account).  Was any withholding taken out?  If it was then did you replace the withholding with your own money?  Otherwise the withholding will be a taxable distribution itself. You will still get credit for the withholding taken out on 1040 line 25b.

 

If you already entered 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. 

 

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