Dodgerfan
Level 3
03-15-2021
11:40 PM
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I have a client who returned the full gross amount of his 2020 RMD prior to the 8/31/20 deadline. He received a 2020 1099R showing the RMD and that it was fully taxable. It was a normal distribution - Code 7. How do I report this on Lacerte? Do I report the full amount of the RMD with $0 taxable and use code 7 and code G for the rollover even though the 1099R shows the RMD as taxable or do I show the RMD amount, $0 taxable and use code G for the rollover?
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