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August 31, 2020 Deadline to roll back 2020 RMD Distribution

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August 31, 2020 Deadline to roll back 2020 RMD Distribution

I was unaware of the deadline today to put back any RMD distributions taken prior to 60 days ago for 2020. I know in March the CARES act was passed suspending the RMD’s for 2020. I didn’t know that they had set the deadline today though if you fell into the over 60 day rule to put back. I was trying to run a query in ProSeries to see if I could locate any clients I have missed but I only see a query for clients that will reach age 72 in 2020 (the new RMD age for anyone born after June 30, 1949). Does anyone know if there’s a way to search the software to find that out? 

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Level 15

They keep "improving" this forum, yet it still is very perplexing to most who try to post here. You basically posted in the area that is for offering improvements in the software, which is a wonderful thing to have, but you question would likely flounder here unseen. Maybe @Just-Lisa-Now- has a good hint for searches.

In the future post how to's in https://proconnect.intuit.com/community/proseries-tax/discussion/03/303

 

Level 15
Level 15

I subscribe to the IRS newsletters and alerts so I get spammed with ever changing tax information on a daily basis, and I belong to various online tax preparer groups and so I DID know about the deadline...the majority of my RMD clients take their distribution in December each year, so this really didn't apply to them.

As far as finding a list of all clients that are in the RMD age range, you could customize Homebase to include a date of birth, then organize that column by oldest first and it would throw all your RMD clients to the top of the list...clunky, but if your database is small, it could be helpful....being its the last day, Im not sure how much luck many of them would have getting it rolled back in on time though.

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