How do I correct this program issue? A Waiver of Tax Smart Worksheet was generated when it does not apply due to the CARES ACT.

Forum|Forum|5 years ago
February 19, 2021
1 reply
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I am 73 and have taken RMD's for several years, but elected to take a reduced amount in 2020. The program is treating it as if an RMD is required. Working on the Deluxe desktop version.

TurboTax Online

AmyC

Employee

Yes, the program still asks about RMD. Please select the answer that none of it was RMD. RMD was abolished for 2020 so there was no RMD required.

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macuser_22

Employee

@AmyC wrote:

Yes, the program still asks about RMD. Please select the answer that none of it was RMD. RMD was abolished for 2020 so there was no RMD required.

§2203 of the CARES Act did not "abolish" RMD's, it temporary waived RMD's for defined contribution plans and IRA's. RMD's for other types of retirement distributions reported on a 1099-R were still required and not waived.

See §2203 of the CARES act.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**