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Get your taxes done using TurboTax
Under a normal year I think you would be right. However, my understanding is that if you have paid back a Covid withdrawal, because of the special rules from the CARES act, the amount that you paid back does not count as income at all. If I withdrew 30k and paid back 30k, you have zero income. Your MAGI should not increase in this scenario.
‎February 26, 2021
9:23 PM