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New Member
posted Feb 19, 2021 2:20:40 PM

RMD returned to IRA

I took my Fidelity RMD early in the year.  When the CARES act exempted the RMD requirement for 2020, I returned the amount to my IRA (before the deadline).  The 1099-R send me by Fidelity lists the amount originally withdrawn.  I entered the IRA as received and was taxed for that amount.  How do I indicate that it was returned?

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2 Replies
Level 15
Feb 19, 2021 2:31:49 PM

First delete the 1099-R and start again. Now answer the question “is this part of a RMD”“NO”.  Now you will be able to tell the program that you returned the withdrawal. 

Level 15
Feb 19, 2021 2:33:32 PM

Since there is no RMD required for 2020,  after you enter the 1099R say it was NOT an RMD and then that you rolled it over (even if back into the same account).  Was any withholding taken out?  If it was then did you replace the withholding with your own money?  Otherwise the withholding will be a taxable distribution itself. You will get credit for the withholding taken out. 

 

If you already entered 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.