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Dompel
New Member

How to report RMD for 2020

 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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Accepted Solutions
MaryK4
Expert Alumni

How to report RMD for 2020

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.  

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2 Replies
MaryK4
Expert Alumni

How to report RMD for 2020

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.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dompel
New Member

How to report RMD for 2020

Thank you for your quick response!

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