After withdrawing my 2020 RMD the CARES Act allowed me to roll it back into the same account with no tax consequences. TT confirmed "you won't have to pay tax on your $10,000 rollover....." yet the Form 1040 is showing the $10,000 as income and taxable! How can I get this corrected? Many thanks.
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Please be sure you indicate that the withdrawal was "rolled over" to the same account.
The amount of the original withdrawal will show on your 1040, line5a., as a distribution, but line 5b will show 0 as the taxable amount, with ROLLOVER noted. See screenshot below:
Thanks so much Irene. Someone else on the forum suggested not to indicate the distribution as a RMD. I tried that and it worked...the TT entry then showed as you displayed and thus not taxable income. Thanks again.
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