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Level 2
Mar 4, 2021 11:27 PM UTC
Solved

RMD

I took some of my RMD during 2020 but then the pandemic came along and I was told RMDs were suspended for the year so I stopped taking them.  Using Turbo Tax I'm confused.  I want to check the box that says "I  was not required to take my RMD" and just file my 1099Rs as I received them.  Do I have to check the box that says " "Did not receive all of my RMD" and then request a waiver of the taxes.  I had taxes deducted with each RMD distribution.

    dmertzAnswer
    Level 15
    Mar 5, 2021 2:34 AM UTC

    You were not required to take an RMD for 2020.   The CARES Act made what you did take out be a voluntary distribution, not an RMD.

    4 replies

    VolvoGirl
    Level 15
    Mar 4, 2021 11:30 PM UTC

    No.  just say it was not the RMD.  Since there is no RMD required for 2020, after you enter the 1099R say it was NOT an RMD. 

     

     

    vetAuthor
    Level 2
    Mar 8, 2021 10:47 PM UTC

    Thank you.

    dmertzAnswer
    Level 15
    Mar 5, 2021 2:34 AM UTC

    You were not required to take an RMD for 2020.   The CARES Act made what you did take out be a voluntary distribution, not an RMD.

    vetAuthor
    Level 2
    Mar 8, 2021 10:49 PM UTC

    Thank you.