What am I missing guys? I entered in all the information about my CARES act 401k distribution EXACTLY as instructed. TRIPLE CHECKED it. I only paid taxes on 1/3 of the distribution in 2020. I should owe another 1/3 of it this year. BUT when I enter in all my information my refund amount does not change which it should. It should go down because I have unpaid taxes on $7k worth of income.
I went several pages back on this forum and see other folks having trouble including a few others like me with the same issue.
Is there another form(8915-F??) that is going to be released/yet to be incorporated into the software to fix this? If so they need to get on it, because the software is telling me I'm ready to file and there are no errors, which is WRONG. Thank God I pay attention and have been doing this for years. Some folks who don't know better and file are going to get smoked by the IRS because of turbo tax.
If that form is already released then the software is simply bugged and should be fixed ASAP. Anyone have the same experience?
EDIT: I THINK @mdwill01 note on the last page is the answer. Although I was dealing with a 401k withdrawal and not an IRA so I had to interpret it to my return however when I entered the amount from box 9 instead of leaving it blank it seems to have fixed my issue and adjusted my refund by the large amount I was expecting.
The instructions needs to say enter 0 if box is checked OR enter the amount from line 9. As it reads now, it seems like if the box is checked you enter 0, but there is no other instruction beyond that so we are all leaving it blank.
