@nolanwittrock wrote:
Online version still is bugged as of Friday afternoon.
I have deleted and reentered by 1099-R and answered all the Covid questions about 10 times. The glitch is not fixed.
No matter what you do, TurboTax thinks you owe tax on the entire amount you withdrew from your retirement plan.
Even if you say you already paid back the entire amount you withdrew, TurboTax still says you owe tax on the full withdrawal. You should owe ZERO tax in the scenario.
Hopefully TurboTax is aware of this bug. If anyone has knowledge that they are working on it, let me know.
You either need to delete the Form 1099-R or clear your return and start over.
I just went through the exercise of entering a Form 1099-R for a non-IRA retirement plan withdrawal. Entered that this was from a qualified plan. Did not get payments on a regular basis. Selected that the withdrawal was due to Covid-19. All the distribution was due to Covid-19. Selected that all the distribution was paid back.
Selected to pay tax for entire distribution in 2020.
Checked the Form 1040. The distribution amount was entered on Line 5a. The taxable amount of 0 (zero) was entered on Line 5b.
What are you entering and what code is in box 7? IRA or non-IRA?
