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jpstultz
New Member

Where do you report RMD reclaimed?

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3 Replies

Where do you report RMD reclaimed?

Do you mean you took an RMD, and then repaid it?

MinhT1
Expert Alumni

Where do you report RMD reclaimed?

The RMDs that you repaid are considered as rollovers to the same account and are not axed.

 

After entering your form 1099-R, click Continue until you reach the screen Tell us if you moved the money through a rollover or conversion. Check the radio button which corresponds to your situation then click Continue and follow the interview. Enter the amounts repaid as rollovers and they will be excluded from taxation.

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Where do you report RMD reclaimed?

If you mean you put it back or rolled it into another account.

Since there is no RMD required for 2020, after you enter the 1099R say it was NOT an RMD and then that you rolled it over (even if back into the same account). Was any withholding taken out? If it was then did you replace the withholding with your own money? Otherwise the withholding will be a taxable distribution itself. You will get credit for the withholding taken out on 1040 line 25b.

 

If you already entered the 1099-R as RMD and changing your answer to the RMD question doesn't work then you have to delete and renter the 1099-R form.

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