How will the 2020 Turbotax program allow me to report required minimum distributions that were redeposited under IRA Notice 2020-51?

[kapono]

Re: I did not receive 1099-R for the 5 accounts which required distributions in previous years. Since I elected not to take and RMD for 2020, so far I have entered distribution $.00, taxes $.00, and normal distribution for block 7.

My reasoning is if I deleted the entry, I will have to reenter all that information for 2021!

Anyone have a better solution.

[DawnC]

You are correct about having to re-enter the 1099-R information next year if you delete the entries this year.   You can certainly attempt to file with the 0 amounts for those 1099-Rs.  However, I am pretty sure that you will get an error when attempting to e-file.   If you can successfully e-file with the empty forms included, that is great.  But if you get the error, they will need to be deleted.  If you are required to delete them, then you would need to either manually reenter them next year or use the import feature.     @kapono

[macuser_22]

You cannot file a blank 1099-R.    It must be deleted.   It only takes a minute or two to enter a 1099-R manually.

[NETom]

My  actual1099-R has the IRA/SEP/SIMPLE box checked.  If I include that in Turbotax it does not give me an option to indicate that I rolled over this distribution back into the account.  If I uncheck that box, it will allow me to answer that question.  However, that will create a mismatch between my filing and the 1099-R.  Even if I delete the entries and create a new 1099-R in TTax, if I check that IRA/SEP/SIMPLE box, I do not get the option to indicate a rollover.  How do I deal with this?   Thank you.

[macuser_22]

There was no 2020 RMD so be sure to answer the RMD question  that "None of this distribution was a RMD" and RMD not required.

[NETom]

Thank you.  I have done that but it does not seem to accomplish anything.  The only way I have been able to get to the "decision tree" about rolling over the funds is by unchecking the IRA/SEP/SIMPLE box.  Then it works perfectly.  It asks me if I returned the taxes (which I did) and gives me credit for rolling it over.  But I am sure the discrepancy will get picked up by the IRS.  I have tried deleting the form and inputting manually, re-importing the form etc.

I finally did this.

1. Unchecked IRA/SEP/SIMPLE box in step by step for this 1099.

2. Went through questions about rollover.

3. Went in to Forms and checked IRA/SEP/SIMPLE box in Forms.

4. Went back to step-by-step and finished answering questions. 

The Smart Check did not indicate a problem with that change in the forms section. And the program did not include that distribution in taxable income.  HOWEVER, if I walk through that form again in step-by-step, it will revert to including that distribution in taxable income. I do believe that Turbotax still needs to address this somehow.

Thank you for your quick reply.

[kapono]

I want to thank everyone for your thoughts.  After reading and digesting your views, great pros and cons.  In the end decided to delete each RMD information carried over from 2019.  

Ron T