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RMD FOR IRA &PENSIONS

josie
Level 1

The taxpayer turned 70 1/2 in April 2019 and took the required 2019 RMD from her IRAs in

August 2019, to avoid two years tax in 2020. Under the Cares act rules she is no longer required to take this distribution. 

Should she include this distribution as taxable on the 2019 return?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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1 Solution

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Just-Lisa-Now-
Level 15
Level 15

Its the 2020 RMD thats no longer required per the CARES Act....so youve got the one 2019 distribution in 2019 and none required in 2020.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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2 Comments 2
abctax55
Level 15

See your previous thread on the same issue.... there's no need to start another one:

https://proconnect.intuit.com/community/proseries-discussions/discussion/required-minimum-distributi...

"*******Tax software is no substitute for a professional tax preparer*******
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Just-Lisa-Now-
Level 15
Level 15

Its the 2020 RMD thats no longer required per the CARES Act....so youve got the one 2019 distribution in 2019 and none required in 2020.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪