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Retirement tax questions
If you withdrew retirement money in 2019 then you were supposed to enter it on your 2019 tax return. You cannot just add it to your next tax return for 2020. You will need to amend your 2019 tax return and add that income to 2019.
Find the 2019 1099R that should have been entered when you prepared your 2019 tax return.
Related Information:
· What does it mean to "amend" a return?
· Do I Need to Amend my Tax Return?
· Will amending delay my original tax refund?
· What is the deadline for filing an amended return?
· Can I e-file my 1040X to amend my return?
And be aware that it is taking the IRS about six months to process an amended return.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
December 12, 2020
4:33 AM