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2020 RMD

Level 1

Do I need to file a 1041 for 2020 with no RMD taken

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3 Replies 3
Level 15

2020 RMDs were waived:

https://www.irs.gov/newsroom/irs-announces-rollover-relief-for-required-minimum-distributions-from-r...

 

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Level 15
Level 15

So there's zero income for that 1041 in 2020?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

Personally, if the RMD is the only income for 2020 (Zero Income), but your 1041 client will have sufficient income to have to file in future years, I would file a Zero Income/Loss Tax Return with the IRS for 2020 anyway. It leaves no room for IRS sending your client a late filing notice (even with zero income). As well, your client/you/IRS will have a sequential record of all years tax returns.

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