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    RMD returned per CARES ACT

    bpbasl1
    Level 2
    ‎02-06-2021 03:10 PM

    Taxpayer returned RMD for 2020 in the tax year 2020 per CARES ACT but 1099r shows taxable. How to report in Proseries as non-taxable?

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    1 Best Answer

    Accepted Solutions
    Just-Lisa-Now-
    Level 15
    Level 15
    ‎02-06-2021 03:17 PM

    1099R worksheet, scroll down to the Rollover section


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

    View solution in original post

    4 Comments 4
    Just-Lisa-Now-
    Level 15
    Level 15
    ‎02-06-2021 03:17 PM

    1099R worksheet, scroll down to the Rollover section


    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    bgoldsmith
    Level 2
    ‎02-06-2021 04:23 PM

    I have a similar issue with a client but the custodian automatically still issued her RMD at the end of Dec 2020, in which she immediately returned it but it wasn't till Jan 2, 2021. She also already received her 1099-R with the distribution code 7 (normal distribution)... Looking for guidance on this too. Thanks!

    0 Cheers
    qbteachmt
    Level 15
    ‎02-06-2021 04:51 PM

    @bgoldsmith 

    Your own topic has answers, here:

    https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/client-incorrectly-rece...

     

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    Don't yell at us; we're volunteers
    bpbasl1
    Level 2
    ‎02-08-2021 08:11 PM

    Thank you!

    0 Cheers






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