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Retirement tax questions
Please check you Form 1040 line 5b, it should show $0 taxable.
The $30,000 split in 3 years means $10,000 is taxable each year, but your repaid $10,000 in 2020 therefore in 2020 your taxable income in regards to the distribution is $0 ($10,000 - $10,000).
Please make sure you enter the amount repaid on the "Enter repayment amount" screen.
To preview Form 1040:
- Click on "Tax Tools" in the left menu
- Click "Tools"
- Click "View Tax Summary" in the Tool Center window
- Click on "Preview my 1040" on the left
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March 2, 2021
11:09 AM