TurboTax 2020 Error: Doesn't Properly Handle 1099Rs for IRA Distributions That Were Redeposited

I redeposited essentially all of my IRA RMD before the August 31, 2020 deadline. TurboTax provides a form several pages after entering the 1099R information to report how much was rolled over, since the 1099R from the broker indicates that it's an ordinary distribution. Despite entering the proper information there, the numbers that show up on the 1040 are for the full amount of the distribution, ignoring the redeposit.

This is clearly a programming error. I hope someone on the TurboTax dev team is aware of this problem and working it. The TurboTax 1040 currently shows me owing a lot of money to the IRS.

posted

Please go back through the program and mark that is was NOT RMD. While it was RMD when you took it, the law changed and it was no longer RMD, which is why you put it back. The program will tax you if it thinks it was RMD.

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