@nolanwittrock wrote:
@macuser_22
@DoninGA
Ok let me give you my exact scenario.
I took $98,008 as a Covid distribution. I already paid 1/3 of that back. I want to spread the tax out of 3 years, which means that, as I understand it, I should owe $0 in tax on that distribution for 2020.
On my 1040 line 4, it shows IRA distributions of $98,008. Line 4b says $92,008. Not sure where that number is coming from.
If you paid 1/3 of the $98,008 that would leave you a balance of $65,339. Spreading the balance over 3 years would mean that $21,780 would be taxable in 2020, 2021 and 2022 tax returns. Your Form 1040 should have $98,008 in Line 4a and $21,780 in Line 4b.
It does not, so either you entered something incorrectly or you need delete the Form 1099-R or clear the return and start over.
