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Level 1
posted Apr 8, 2024 7:21:37 AM

Why does my tax return for 2023 have my 401K withdrawal in 2020 on it?

Ok, I took $60,000 out of my 401K in 2020 under the Cares Act. I elected to count it as taxable income over 3 years. I went to file my taxes this year and there is $20,000 on there again. I went back and looked at my previous tax returns and there is $20,000 on my 2020 tax return, $20,000 on my 2021 tax return, $20,000 on my 2022 tax return so why is it showing up on my 2023 tax return? I couldn't find a way to remove it either.

0 3 1862
3 Replies
Expert Alumni
Apr 8, 2024 7:51:33 AM

Go to your forms to see if you can delete Form 8915. If you can't, reach back because we will need to issue you a precise set of instructions to eliminate this error.

 

If in Turbo Tax online:

 

  • Go to Tax tools
  • Tools
  • Delete a Form
  • Delete Form 8915.  Could be 8915 F, 8915 E. Delete it it whatever it is.
  • If using the software, go to the forms mode in your return, select it, and select Delete form at the bottom of the form

Reach back to us if this doesn't clear the issue.

 

@slicric01 

Level 1
Apr 8, 2024 8:15:37 AM

Hmmmm...there is no 8915 in that list anywhere?

Expert Alumni
Apr 11, 2024 7:55:59 AM

Do you see "Qualified 2020 Disaster Retirement Distribution and Repayment Worksheet"  (8915E wks) when you follow DaveF1006 steps? If yes, try deleting it. 

 

To clarify, you do not show an extra Form 1099-R in the retirement section? If yes, then follow these steps to delete it:

 

  1. Click on "Search" on the top right and type “1099-R”  
  2. Click on “Jump to 1099-R”
  3. On the "Review your 1099-R info" screen click "Delete/Trash icon"