Retirement tax questions


@jbringuel wrote:

The form is available in TurboTax but It is not available to every situation. Especially not those situations that are involved with the Care act. I know that's what it was supposed to be but it doesn't work. The only way it works is if you're under 59 and took out an early withdrawal. Anyone that took out a withdrawal and replace the redrawal right afterwards it tells you you are not eligible to do what you want to do and that is get your tax money back.


All the Federal taxes withheld on the form 1099-R are entered on the Federal tax return as tax payment.  If the total tax payments on the 2020 federal tax return are greater than the total tax liabilities then you will receive a tax refund for the overpayment.

If all the withdrawal was paid back in 2020 then the withdrawal is not entered on the federal tax return as taxable income, lines 4b or 5b of Form 1040.