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RMD returned per CARES ACT

bpbasl1
Level 2

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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Just-Lisa-Now-
Level 15
Level 15

1099R worksheet, scroll down to the Rollover section


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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4 Replies 4
Just-Lisa-Now-
Level 15
Level 15

1099R worksheet, scroll down to the Rollover section


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

bpbasl1
Level 2

Thank you!

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bgoldsmith
Level 2

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!

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qbteachmt
Level 15

@bgoldsmith 

Your own topic has answers, here:

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

 

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