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Please follow these steps to enter your 1099-R and RMD rollover in TurboTax Desktop:
RMDs were waived for 2020 and 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.
You can verify your entry by switching to Form mode (click on Forms at the top right). Look at your Form 1040 line 4 or 5.
Why does the 2020 software still say that I am required to take an RMD for 2020? Shouldn't this be fixed in the software?
@rosesinny Yes, this has been updated in TurboTax.
The CARES Act allowed taxpayers to skip their 2020 required minimum distributions (RMDs). These distributions are typically taxed as ordinary income, so postponing your retirement account withdrawals until 2021 could reduce your 2020 tax bill.
You may want to Delete your 1099-R and re-enter it.
If you are using the desktop product, make sure it is fully updated.
Click this link for more info on How to Enter 1099-R.
This article has more info on 2020 Tax Relief.
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