If you took an RMD from Vanguard in 2020 and later undid it, how do you report that in Turbo Tax so that you are not taxed?
Vanguard has sent me a 1099-R to report the distribution.
Thank you.
How to report RMD in Turbo Tax that was subsequently undone.
Re: How to report RMD in Turbo Tax that was subsequently undone.
“ Because you received a 1099-R, the IRS will also have received a copy of this 1099-R. You will need to report this 1099-R rollover distribution on your tax return but none of it will be taxable. Just make sure that when you are reporting this information into TurboTax that for the question "What Did You Do With The Money From (your retirement fund)?", answer "I moved the money to another retirement account (or returned it to the same retirement account)"”
https://ttlc.intuit.com/community/retir ... /00/495947
https://ttlc.intuit.com/community/retir ... /00/495947
Re: How to report RMD in Turbo Tax that was subsequently undone.
What HueyLD says. I did this yesterday in TT and the questions are very clear. If you enter the 1099-R info and answer the questions and are still not getting the result you expect, delete the 1099-R in TT and start again. When you're done "Go to Forms" and check your 1040. Line 4a should show the total distribution and 4b should show the taxable amount (if any). "ROLLOVER" should appear below the 4a amount.