When Turbo Tax was checking for errors just before I filed my 2020 Federal Taxes, TurboTax instructed me to check an entry on Form 5329-T. The comment was "Waiver of tax should not exceed the minimum required distribution shortfall" and in the blue box below, it showed the amount of the "Waiver of Tax" which I know was equal to the last two of four 403B RMD distributions which I did not take because RMD's were suspended in mid 2020 with the Cares Act. I do not want to get penalized for not taking out the entire RMD. I'm not sure where I made the error. When filling in the 403B Retirement Account Statement, per the advice I saw on TurboTax Community, I answered the question " Was this withdrawal an RMD for 2020?" with "no" even though I took a partial withdrawal. Should I have answered "yes, some" of it was a withdrawal? Then Turbo Tax says "If you took your RMD and later rolled it back into your account under the Cares Act, answer no here. If you took your RMD as usual, go ahead and let us know. " I don't know how to answer because I only took a partial RMD. I'm not sure what to do.
I have the same issue! How do I show a pratial rollback of my early 2020 RMD?
Answer no. (not an RMD) Than go to check the appropriate box on your 1099R line B1 or B2. Should straighten this out.
I Don't understand the comment: "Than go to check the appropriate box on your 1099R line B1 or B2. Should straighten this out." in the response. Specifically where ins the line B1 or B2? Is B short form something? Is the line on the 100R I received or something in TurboTax. I can't find if the former. If the latter how to your "go to check the approriate box..."