Although I was not required to receive my RMD for 2020 due to the CARES Act, I did not receive some of it but not all of it. I am using TT Easy Step. I am not sure if I should indicate that I did not receive all my RMD. If I do so, I can see that IRS Form 5329-T is generated with PART IX (Additional Tax on Excess Accumulation in Qualified Retirement Plans) completed indicating that I need to pay the tax. Or should I simply indicate that I was not required to take an RMD for 2020 where the form 5329-T is not generated.
Thank you.
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Because the CARES eliminated the RMD for 2020, you should select " xxxx was not required to take an RMD for 2020" so that the penalty is not created.
Because the CARES eliminated the RMD for 2020, you should select " xxxx was not required to take an RMD for 2020" so that the penalty is not created.
Thank you for your quick response!
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