topic Made ira rmd for 2020 withdrawal.Care Act came. Returned money back to ira. Later withdrawal made on ira rmd for 2020. how do i input on turbotax? in Retirement tax questions

Made ira rmd for 2020 withdrawal.Care Act came. Returned money back to ira. Later withdrawal made on ira rmd for 2020. how do i input on turbotax?

wayne201 — Sat, 06 Mar 2021 18:44:52 GMT

Re: Made ira rmd for 2020 withdrawal.Care Act came. Returned money back to ira. Later withdrawal ...

DanaB27 — Sat, 06 Mar 2021 18:59:15 GMT

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.

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.

Re: Made ira rmd for 2020 withdrawal.Care Act came. Returned money back to ira. Later withdrawal ...

fanfare — Sat, 06 Mar 2021 19:33:50 GMT

if you took some and put it back and then took some, the net result is what you took out finally.

your 1099-R will show the sum of both distributions.

You have to tell TurboTax how much you put back.