1040 discrepancy between line 5a and 5b

Forum|Forum|2 years ago
November 27, 2023
27 replies
120 views

I have received a potential proposed payment due letter from the IRS because my line 5a is greater than 5b. We did take a distribution where a portion was used to pay for hurricane damages, and opted for the three year repayment plan, but the amounts don't add up to the difference they are quoting.

Any help with this is greatly appreciate - thanks!

David B.

TurboTax Home & Biz Windows

fanfare

Level 15

2020 is the only year you could divide a distribution by 3.0.

This is not a repayment plan.

It is a "spread the tax" over three years plan.

You had to file form 8915-E in 2020 and 8915-F in 2021,2022 and do it correctly.

Which year is IRS complaining about?

(only for 2020 would 5a be more than 5b.)

@dabfvnc1

dabfvnc1Author

Level 2

Thanks for the reply - it was for 2021. I don't know how the value is calculated but I did enter everything include the federal and state tax deductions that were already included.