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Level 2
February 16, 2021
Question

RMD for 2020

  • February 16, 2021
  • 1 reply
  • 2 views

Why does TT ask if my IRA withdrawal was an RMD when RMD's were suspended for 2020?  I still took some withdrawals, but not enough to meet my RMD (as in previous years).  Do I just answer that none of my withdrawal was an RMD due to it not being required in 2020?

    1 reply

    Level 15
    February 16, 2021

    Yes, please answer none of your withdrawals were RMD. 

     

    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. 

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    Level 2
    February 19, 2021

    Exactly what I needed to know.  Thanks!