RMd and Cares Act

49SRB — Tue, 02 Mar 2021 15:00:57 GMT

I received my RMD in late January 2021. I then returned some of the money as permitted by the Cares act.

I entered the RMD and listed the amount as required.

Question

Where do I enter the amount returned reported as a "rollover"?

Re: RMd and Cares Act

DanaB27 — Tue, 02 Mar 2021 15:58:10 GMT

RMDs were waived for 2020. You must indicate to TurboTax that none of the distribution was RMD. If you already enter 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.

Please follow these steps to enter your 1099-R and RMD rollover:

Login to your TurboTax Account
Click on the Search box on the top and type “1099-R”
Click on “Jump to 1099-R” and enter your 1099-R
Continue until "How much was a RMD?" and select "none"
Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
Continue answering the questions.

You can verify your entry by looking at your Form 1040 line 4 or 5:

Click on "Tax Tools" in the left menu
Click "Tools"
Click "View Tax Summary" in the Tool Center window
Click on "Preview my 1040" on the left

topic RMd and Cares Act in Retirement tax questions

RMd and Cares Act

Re: RMd and Cares Act