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Took my 401k RMD in Jan.2020 and prepaid to cover both fed

Should I declare the prepaid tax as income? Report the RMD as a rollover? What about the 1099R that was issued?
What a mess!
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1 Reply
MaryK4
Expert Alumni

Took my 401k RMD in Jan.2020 and prepaid to cover both fed

No, the prepaid tax is applied to your tax liability for 2020, it is not income.  If you did not put the funds back into the account or another account it would not be a rollover.  You must enter the 1099-R to report the income, withholding, and RMD information.  See Where do I enter my 1099-R? - TurboTax Support.

 

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