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Retirement tax questions
please consider my example again from above where I stated
"I get a taxable amount of 79,552.
which is 165,552 - 43,000 - 43,000"
First, I did have the election to pay it all in one year checked off, which I found by stepping through again.
However, there are two places to enter the "rolled over amount" aka "paid back amount".
I can deduce that TurboTax is putting 43,000 on Line 18 of Form 8915-E.
Is that a permissible entry on Line 18 ??
Whoop-de-doo. Today is a new day and it is doing it differently now !
It says my taxable amount is 22,552 because the 43,000 repayment is covering my 1/3 of 100,000.
That makes more sense. Is that correct ??
(one might say it is counting the 43,000 twice.)
March 3, 2021
1:14 PM