How to report RMD for 2020

Forum|Forum|5 years ago
February 16, 2021
1 reply
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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.

Best answer by MaryK4

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.

MaryK4Answer

Level 15

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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