Husband had income in 2020 from a 401-K pension plan. I've checked that all or part of the distribution was RMD. Now Turbo Tax wants to know how much of it was RMD. There has been no mention from the former employer of RMD. How do I proceed?
031314
3 Replies
npierson7
Level 1
Feb 13, 2021 11:59:40 AM
You can put 0 as RMD in your 2020 tax return. The IRS waived RMD in 2020, so this won't cause additional taxes and won't affect your 2020 federal tax refund.
darbutis
Level 2
Feb 13, 2021 12:42:11 PM
Husband turned 71 in May 2020. Further research looks like minimum age for RMD has been changed to 72? Assuming I should indicate that no RMD was taken. Correct?
npierson7
Level 1
Feb 13, 2021 2:25:32 PM
Yes, you're correct. You'll have to take RMD in 2021, unless other changes made for the RMD during the year.