@dilorenv wrote:
I took a $68,000 contribution out of a qualified plan due to COVID 19, I returned the funds within the year, I thought I had three years to do that. Why is turbo tax still applying a taxable to 1/3 of it?
Be sure to answer the COVID questions and when it asks if funds were returned in 2020 - enter the total amount. If not returned until 2021 then 1/3 will be taxable in 2020.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
