So I lost my job like many other people last year because of Covid-19. I had a 401k with the company and received a 1099-R for my taxes this year. It has been rolled over to a Traditional IRA, and as I am trying to complete my taxes it looks as though the 1099-R being treated as income?
Boxes:
2a) $0.00
2b) Total distribution is checked☑️
7) Distribution code "G" for rollover
and the last box that has something is the state box 15) WA
I filled out the part where it asks if the withdrawal was due to covid-19 because it was... and it says I won't have to pay the additional tax on the early withdrawal. So that's good I guess. Then it asks if I repay any of this distribution? I wasn't sure what to put for that so I said I repaid none of the distribution. Is that wrong for this situation?
Also, am I allowed to put the new Traditional IRA as a contribution?
Thanks in advance for helping me answer these questions!
