Reply To: Rollback of 2020 RMD.

Home Fairmark Forum Retirement Savings and Benefits Rollback of 2020 RMD. Reply To: Rollback of 2020 RMD.

Alan S.

There might be a few bucks of earnings distributed with the 46.68 which will show up in Box 2a of the 1099R. Such earnings will be taxable on your 2020 return.

You will report only the 63,453 as a rollover on line 4b of Form 1040 leaving 47 as taxable in addition to the earnings mentioned above. There will not be any penalty, but you should include an explanatory statement with your return regarding the corrective distribution as is the case for any corrective distribution.