2020 rules on rolled back RMD

[michaelsze]

I have IRAs with two different investment companies. I usually paid the total RMD from the first investment company. So, I only receive one 1099R. This year I took out the total RMD from the first investment company. Then based on the 2020 special rules, I rolled back some distribution to the same company. TurboTax would not allow me to efile my tax return, saying that I roll back more than the RMD. This is because we have no way of showing the RMD from the second investment company. How can we correct the situation?@MikeS

[MarilynG1 · Accepted solution]

Since there is no RMD required for 2020,  after you enter the 1099-R say it was NOT an RMD and then that you rolled it over (even if back into the same account). 

Because of the special rules for Retirement Distributions due to Covid, you may want to wait until Form 8915-E is approved by the IRS (which should be any time) to enter your 1099-R.

Click this link for info on How to Be Notified when Form 8915-E is Ready.

[michaelsze]

Thanks for the reply. If I have already entered the distribution based on my calculation of the Combined RMD and then entered the roll back, what should I do?@MarilynG1

[AmyC]

Once the 8915-E is available, you can log back in . Return to the 1099-R, click Edit/Update and go back through to mark that none of it was RMD. Continue through the questions revising your answers.

Related: 

Retirement Topics — Required Minimum Distributions (RMDs ...

2020 Instructions for Form 8915-E - Internal Revenue Service