Submitted By: someone
Answered: May 3, 2021 11:04 pm

I didn’t take a required minimum distribution in 2020? Do I have to file anything for this?

Required minimum distributions were waived for 2020. Anyone who did not take a distribution is fine; no special filing is required.

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Tax Glossary

Accelerated cost recovery system (ACRS)

A statutory method of depreciation allowing accelerated rates for most types of property used in business and income-producing activities during the years 1981 through 1986. It has been superseded by the modified accelerated cost recovery system (MACRS) for assets placed in service after 1986.

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