Skip to main content
March 9, 2021
Question

Why is the RDM I rolled back into my IRA under the cares act showing as income? I check the "no RMD" response in the program

  • March 9, 2021
  • 1 reply
  • 0 views
What am I missing?

1 reply

March 9, 2021

Please check Form 1040 line 4b for the taxable amount. The summary in TurboTax shows gross income.

  1. Click on "Tax Tools" in the left menu
  2. Click "Tools"
  3. Click "View Tax Summary" in the Tool Center window
  4. Click on "Preview my 1040" on the left

 

If this doesn't help then you might have to delete and renter your 1099-R:

  1. Login to your TurboTax Account 
  2. Click on the Search box on the top and type “1099-R”
  3. Click on “Jump to 1099-R” and enter your 1099-R
  4. Continue until "How much was a RMD?" and select "none"
  5. Continue "Tell us if you moved the money through a rollover or conversion" and select "I rolled over some or all of it to an IRA or other retirement account within the time limits (normally 60 days)"
  6. Continue answering the questions.

 

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"