Repayment of RMD

[Cliff33]

In 2020 I took $21K from my IRA.  This was done early in the year.  Then they said an RMD wasn't necessary for 2020 and 

in July I paid back $8K into the IRA. 

My 1099R shows the $21K.  When I entered in Turbo Tax it asked if any of the distribution was rolled over to another IRA or replaced in the original.  I entered the $8K, but the adjustment for taxable income on the 1040 reduced it only by the amount of charitable contributions, not the repayment.  Where will it be adjusted?

My concern is paying taxes on the $8K this year, then again nest year when I take it out again.  

[DanaB27]

Please follow these steps to enter your 1099-R and RMD rollover:

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”
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 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 looking at you Form 1040 line 4, the taxable amount will be on 4b:

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

[elc]

When you fill out the step by step and it asks if the rollover money is from an RMD you need to answer NO.          I had the same problem.  The program ended up giving me credit for it.