@Wyatt5 wrote:
Follow-up:
I followed the instructions however there is a problem. The full amount distributed should be reported as a covid distribution however it is showing $0 dollars and is not spreading out the amount over three years. Can you tell me where to go into the form and enter the full amount to be entered for the reported amount so it can be distributed properly? Thank you!
Assuming that you indicated all of the distribution was due to Covid-19, did you repay 1/3 or more of the distribution? If so, then the taxable amount of the distribution will be a 0 on Lines 4b or 5b of the Form 1040.
The full distribution amount should be on Line 4a or 5a. Is there any amount on 4b or 5b?
What is the code in box 7 of the 1099-R? Is the distribution from an IRA and if so which type, Roth or Traditional?
Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
