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February 5, 2021
Question

IRA RMD

  • February 5, 2021
  • 1 reply
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I am using TurboTax Basic. I took a RMD in 2020 but returned it before August 31. The program says I do not have to pay taxes on the RMD but it shows up in my 1040-SR as a taxable amount.

1 reply

February 5, 2021

You must indicate to TurboTax that none of the distribution was RMD.

 

If changing your answer to the RMD question in the interview doesn't work (or unchecking the box on the worksheet in Forms mode), then you have to delete and renter the 1099-R form. 

 

Click this link for more info on RMD Rollover Taxable