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March 4, 2021
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RMD

  • March 4, 2021
  • 2 replies
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I took some of my RMD during 2020 but then the pandemic came along and I was told RMDs were suspended for the year so I stopped taking them.  Using Turbo Tax I'm confused.  I want to check the box that says "I  was not required to take my RMD" and just file my 1099Rs as I received them.  Do I have to check the box that says " "Did not receive all of my RMD" and then request a waiver of the taxes.  I had taxes deducted with each RMD distribution.

    Best answer by dmertz

    You were not required to take an RMD for 2020.   The CARES Act made what you did take out be a voluntary distribution, not an RMD.

    2 replies

    VolvoGirl
    Employee
    March 4, 2021

    No.  just say it was not the RMD.  Since there is no RMD required for 2020, after you enter the 1099R say it was NOT an RMD. 

     

     

    vetAuthor
    March 8, 2021

    Thank you.

    dmertzAnswer
    Employee
    March 5, 2021

    You were not required to take an RMD for 2020.   The CARES Act made what you did take out be a voluntary distribution, not an RMD.

    vetAuthor
    March 8, 2021

    Thank you.