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March 10, 2021
Question

Do I post "only part of this distribution was an RMD" if I did not return it to the account?

  • March 10, 2021
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1 reply

March 10, 2021

The RMDs have been waived for tax year 2020.

 

Please read this IRS document for more information.

 

In TurboTax, if you withdrew in 2020 more than your RMD, you can choose either Only part of this distribution was a RMD or None of this withdrawal was a RMD. There is no penalty.

 

 

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