Where/how do I enter that In August 2020, I returned $5000 of RMD distribution to the RMD account. My 1099 does not reflect that.

[MinhT1]

The repayment of RMDs is part of the Coronavirus-related relief measures for retirement plan distributions.

The Coronavirus-related relief measures for retirement plan distributions have to be reported on form 8915-E which has not yet been finalized by the IRS. No date has been given by the IRS for the finalization of this document.

TurboTax will update this section after the IRS releases the final version of form 8915-E and its instructions. Please revisit this section at a later date.

[dmertz · Accepted solution]

This has nothing to do with a CRD or Form 8915-E.

Because RMDs were waived for 2020, the distribution was not an RMD even if that was the original intent of the distribution.  After entering the Form 1099-R exactly as received, you must indicate that none of the distribution was RMD, then indicate that you moved the money to another retirement account (or returned it to the same account), that you rolled over the distribution and that you rolled over the entire distribution.  TurboTax will include the gross amount on Form 1040 line 4a or 5a but will exclude the entire amount from the taxable amount on line 4b or 5b and will include the word ROLLOVER next to the line.

[johnstj125]

I think the second answer here provided a work around given the form you speak of is not available.  I was able to accomplish my goal within TurboTax ability.  What do you think of the other answer?

[johnstj125]

I like this answer as I was able to generally follow your lead and work around the fact that a form is not available.  I have asked the other answer what they think of your answer.  Thank you.

[Andre]

Hi!  In 2020, if someone took an RMD from their 403B account and returned it in 2020 in time, they get a 1099-R to show the distribution.   They are also being told that there is no form 5498 being generated to account for that money being returned, because my understanding is that NO 5498 is generated when putting money back into a 403B....  QUESTION --->    So, what form or schedule does someone use to account for that RMD that was returned into their 403B? 

[macuser_22]

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@Andre  wrote:

Hi!  In 2020, if someone took an RMD from their 403B account and returned it in 2020 in time, they get a 1099-R to show the distribution.   They are also being told that there is no form 5498 being generated to account for that money being returned, because my understanding is that NO 5498 is generated when putting money back into a 403B....  QUESTION --->    So, what form or schedule does someone use to account for that RMD that was returned into their 403B? 

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Only IRA's will generate the 5498 form.

You just enter the 1099-R and check the box that the money was "Moved to another (or same) retirement account" (rolled over)..   That puts it on the 1040 line 5a with zero taxable amount on 5b and the word ROLLOVER next to it.

[mksusanh]

8915E is now available (I have hard copy). I entered my 1099R for my RMD for 2020 and entered that I had returned it to the issuer. TT says that it is not taxable, but my software still shows it as taxable income on Form 1040, Line 4 and 5. Is this a programming snaufu or is it dependent on 8915E? When will it be fixed?

[macuser_22]

The TurboTax 8915-E should be available on Feb. 24 (pending IRS approval by then).

The IRS just finalized the form on Feb 11. TurboTax must now submit their 8915-E software to the IRS for testing to be sure that both TurboTax and the IRS e-file computer are compatible. That process usually takes the IRS 2-3 weeks for approval to release the new form to the public.

See below for a link to sign up for an email when the form is ready.

This form is necessary to report COVID related distributions from IRA's and other retirement plans to report the distribution, pay it back over 3 years or spread the tax over 3 years.

A COVID-19 related distribution is reported on a new 8915-E form.

See this TurboTax FAQ to sign up for an e-mail when the form is ready.
https://ttlc.intuit.com/community/tax-topics/help/why-am-i-getting-getting-a-10-penalty-on-my-1099-r...

[mksusanh]

Will this correct the calculation error on Form 1040 Line 4 & 5 to show amount as non-taxable income?

[macuser_22]

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@mksusanh wrote:

8915E is now available (I have hard copy). I entered my 1099R for my RMD for 2020 and entered that I had returned it to the issuer. TT says that it is not taxable, but my software still shows it as taxable income on Form 1040, Line 4 and 5. Is this a programming snaufu or is it dependent on 8915E? When will it be fixed?

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A return of RMD is NOT reported on the 8915-E form.  Is it just an ordinary rollover that is not usually permitted for a RMD but the CARES act eliminated 2020 RMD's.

Just enter the 1099-R and answer the RMD question that "None of this distribution  was a RMD" , then say you "moved" (rolled over) the entire amount.     That will put it in  the 1040 line 4a with the word ROLLOVER next to it.

The 8915-E form is for COVID related distributions, not rollovers of RMD's that did not need to be taken.

[mksusanh]

My CD software is not making the calculation. After entering my 1099R and completing the steps, I am told it is not taxable income. But, it is still showing as taxable income on Form 1040 Line 4 and 5. It is not showing as ROLLOVER. So, I'm assuming, it is then a programing error that must be fixed before I can file my taxes. How do I connect with someone who can fix?

[mksusanh]

My BAD! I incorrectly answered one of the questions. Calculated correctly.