I didn't take my MRD from my IRAs this year due to it being excused because of Covid. How do I handle on my tax form?

[MichaelJoeSullivan]

I can't figure out how to answer the question about it.

[DanaB27]

If you did not take your Required Minimum Distribution (RMD) then answer you were not required to take the RMD / none was RMD when TurboTax asks.

If you took and returned the RMD then please follow these steps:

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” and enter your 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.

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 renter the 1099-R form. 

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

[fredaa123]

I'm using an online version of Turbotax and I tried the steps listed and it did not work for me. I still do not know how to indicate in the online version of Turbotax that I did not take an RMD for 2020 and that I was not required to do so. I've spoken with three of the Turbotax online "experts" for one hour and still was not able to resolve this issue. 

One "expert," told me just to delete the 1099-R, but that didn't seem right. I gave another representative access to my screen and after one hour of trying to resolve this issue without success., I gave up. 

Has anyone found a solution to this problem

[DMarkM1]

If you have answered as the posters have guided you, then you have indicated correctly that no penalty for failing to withdraw RMD will be applied to your return. 

If you had not indicated properly, you would have been guided to an interview to explain the RMD shortage and give you the opportunity to correct it and even get a waiver from the IRS.  You would actually have to enter the amount of your RMD and the amount of your distribution showing the amount of shortage.  There would be no doubt that you did not take the proper RMD.

For 2020 since there is no RMD there will not be a penalty imposed.    

You can verify by looking at the forms for your return. Line 23 will have a tax penalty of 50% of any amount if RMD that you did not take that you had to take.  

1. Click "Tax Tools" in the left hand menu
2. Click "Tools"
3. Click "View Tax Summary"
4. Click "Preview My 1040" in the left hand menu