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dan-z
New Member

Your help system is useless. Where can I actually find out how to handle a RMD rollover? Do I set "taxable income" to zero?

I have entered the 1099-R with the information shown on the boxes.

I changed the "taxable amount" to zero, and checked the box for   'This is an RMD.'

Is this all correct?
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1 Reply
dmertz
Level 15

Your help system is useless. Where can I actually find out how to handle a RMD rollover? Do I set "taxable income" to zero?

You must delete the 1099-R form from TurboTax.  Next, reenter the Form 1099-R exactly as received, then indicate that none of the distribution was RMD (it ceased to be an RMD with the enactment of the CARES Act), then indicate that you move the money to another retirement account or returned it to the same account, then indicate the amount rolled over.  TurboTax will include the gross amount on Form 1040 line 4a or 5a, but exclude the rolled-over amount from the amount on line 4b or 5b.  TurboTax will also include the word ROLLOVER next to the line.

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