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Get your taxes done using TurboTax
@nolanwittrock wrote:
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.
This is what I get (my line 4b is $2669 because I replayed $30,000 not exactally 1/3)
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎February 26, 2021
3:26 PM