topic RMD in Retirement tax questions

RMD

vet — Thu, 04 Mar 2021 23:27:00 GMT

I took some of my RMD during 2020 but then the pandemic came along and I was told RMDs were suspended for the year so I stopped taking them. Using Turbo Tax I'm confused. I want to check the box that says "I was not required to take my RMD" and just file my 1099Rs as I received them. Do I have to check the box that says " "Did not receive all of my RMD" and then request a waiver of the taxes. I had taxes deducted with each RMD distribution.

Re: RMD

VolvoGirl — Thu, 04 Mar 2021 23:30:00 GMT

No. just say it was not the RMD. Since there is no RMD required for 2020, after you enter the 1099R say it was NOT an RMD.

Re: RMD

dmertz — Fri, 05 Mar 2021 02:34:08 GMT

You were not required to take an RMD for 2020. The CARES Act made what you did take out be a voluntary distribution, not an RMD.

Re: RMD

vet — Mon, 08 Mar 2021 22:47:16 GMT

Thank you.

RMD

vet — Mon, 08 Mar 2021 22:49:44 GMT

Thank you.