Turbo tax has software errors with IRA rollovers. Tax laws allows for them to be returned, but Turbo Tax includes them with taxable income after completing step by step

[Bsch4477]

Delete your 1099-R form and start reporting your 1099-R from scratch. This time answer “no” when asked if any of the distribution is RMD. Then you will be prompted to report the amount rolled over or returned. 

[rtr19xx44]

Nothing worked.  I did an override.

[LPPL1461]

I could never get the prompt as to how much was rolled over either.  I didn't say it was an RMD.  They need to fix this--it will be a common problem this filing season.

[SamS1]

If you are using Desktop, you need to go to Forms mode.  Click on Forms in the upper left hand corner of the screen. In the left hand column, click on the 1099R you're working and it will open.  Scroll down the 1099R and you will see the options for QCD and RMD.  There you can indicate if you rolled the RMD back into your IRA.

The pandemic has affected your taxes in many ways. Including reporting in TurboTax the amount of stimulus money you received. Click Here for more information on how the Pandemic affected your 2020  taxes.

[LPPL1461]

That suggestion worked.  Thank you.  It seems as though they should put a fix in this on step-by-step.

[SamS1]

Duly noted.  My thoughts are, other than the QCD, there may not be another instance where you will be able to roll RMD back into your IRA.  But who knows what the future will bring.  

Form 8915-E: Qualified 2020 Disaster Retirement Plan Distributions and Repayments, which is used for COVID-related early distributions, will be e-fileable starting 2/24.  The IRS is updating form 5329’s instructions to make it clear that COVID related exceptions cannot use 5329 and should use the new 8915-E.