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Returning Member
posted Aug 12, 2023 2:28:38 PM

I have $300.00 RMD rollover but I do not know where to enter in Turbo Ta Premiere? Rollover due to error of Financial Manager to decrease my Taxable RMD?

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Level 15
Aug 12, 2023 7:29:47 PM

Enter the Form 1099-R that reports the distribution.  When TurboTax asks, indicate that only a portion of the distribution was RMD, then indicate the correct amount that was required to be distributed.  (The amount distributed in excess of the required amount is not part of your RMD.)  Indicate that you moved some or all of the money to another retirement account (or back to the same account), then indicate the amount rolled over.  TurboTax will included the entire distribution on Form 1040 line 4a or 5a, but will exclude from line 4b or 5b the amount rolled over.

1 Replies
Level 15
Aug 12, 2023 7:29:47 PM

Enter the Form 1099-R that reports the distribution.  When TurboTax asks, indicate that only a portion of the distribution was RMD, then indicate the correct amount that was required to be distributed.  (The amount distributed in excess of the required amount is not part of your RMD.)  Indicate that you moved some or all of the money to another retirement account (or back to the same account), then indicate the amount rolled over.  TurboTax will included the entire distribution on Form 1040 line 4a or 5a, but will exclude from line 4b or 5b the amount rolled over.