Question

I was told that the usual RMD was not required to be taken in 2020 due to Covid-19. I did not take it in 2020, but now am wondering if that was true?

Forum|Forum|5 years ago
March 18, 2021
1 reply
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Is there a special form to indicate that I chose not to take the RMD in 2020?

TurboTax Deluxe Online

Employee

IRS website - https://www.irs.gov/newsroom/irs-seniors-retirees-not-required-to-take-distributions-from-retirement-accounts-this-year-under-new-law

The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, waives required minimum distributions during 2020 for IRAs and retirement plans, including beneficiaries with inherited accounts. This waiver includes RMDs for individuals who turned age 70 ½ in 2019 and took their first RMD in 2020. Roth IRAs do not require withdrawals until after the death of the owner.

There is nothing you need to report if you did not take a distribution in 2020