RMD

I did not take an RMD in 2020 becasue it was waived. TT has calculated that I owe $500 tax becasue of that. Did I answer a question wrong?

posted

When asked about completing your RMDs for 2020, the correct answer is that you received all of your RMD for 2020. You effectively took out all $0 of the $0 required to have been taken.

Simply delete the Form 5329 that is present in your tax return.

I am 75 with an IRA, receiving 2025 RMD. Part of the RMD paid directly to my church. Am I correct in assuming I do not have to include this amount in my taxable income?

in Retirement tax questions

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