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I took a COVID-19 distribution from my 401(k). The admin sent me two different 1099-Rs for partial amounts. TurboTax is only letting me say one is for COVID-19. Why?
I took a distribution from my 401(k) due to COVID-19 hardship. As an example, the total amount was $50,000. The 401(k) administrator sent me two different 1099-Rs: One for $40,000 and one for $10,000. I entered both 1099-Rs into TurboTax, but it asked me about COVID-19 only on the $40k 1099-R. It did not ask me about COVID-19 on the $10k 1099-R. It is not letting me defer taxes and eliminate the penalty for the second 1099-R.
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March 1, 2021
10:22 AM