Hi,
I would really appreciate some help! I have been over this and over this. I have re-enterd the 1099 several times. I reset my whole return and started from scratch only to come up with the same issue:
Withdrew from 401K for COVID reasons $22,723.
Paid back $15,000 within the year.
I want to pay all tax this year - they did withhold.
When I enter the withdrawal by itself without the payback), Line 5B includes it all ($22,723) and all is well.
But once I add the payback of $15,000, it calculates 5B as $13,331. It should be $7,723, right?
Ugh - I have been going over and over this since last week and I just don't get it.
